Depressed - Both Me and the Economy

As you know, I have become a big fan of Paul Krugman as of late. Recently he has been hating on the rating agencies, and I wasn't sure why. Then I read this really good post at Economix about the possible debt ceiling scenarios (which really depressed me). It seems that if the government imposes savings over the medium and short term, the rating agencies might downgrade the US anyway if the cuts aren't "credible". I don't know what that means exactly, but it isn't comforting.

What I don't get is that when most economists are saying we don't have a short term debt problem, why are the rating agencies concerned? Is Krugman right that they are ideological? Either way, it looks like Catherine Rampell is right, this is unlikely to end well. I foresee scenario 4 (if we are lucky - scenario 1 isn't out of the question) - where the cuts are in the near term, rating agencies are appeased, and our economy goes down the toilet. Thanks rating agencies!

I just want to cry. I see no way out of our stagnant economy and high unemployment and no one is even fighting for it. And anytime you talk about the people who need government support - unemployed - and how Republican policies will only hurt those people, you are accused of class warfare (which is of course an attempt to end debate because they don't actually have a response to that criticism). There is no real debate and probably will be no solution.

I've Made A Huge Mistake

I didn't want a woman to be president. I wanted to be president! - Amy Poehler as Senator Hillary Rodham Clinton.

Dear Secretary Clinton,

I am writing to express my deepest apologies. In 2008, I supported then-Senator Barack Obama for the Democratic nomination for president. As you well know, that meant I did not support you - the other strong candidate in the race. Considering the state of our government, I realize now that was a big mistake.

When I supported Barack Obama for president, I did so because he seemed to promise all the things I wanted a presidential candidate to promise. He seemed slightly more liberal generally - including on foreign policy. But most importantly, he promised a fresh start and a move away from the divisive politics of the Baby Boomers. He said we could disagree without being disagreeable.

I see now how naive it was to believe all of that. First, he wasn't nearly as liberal as he suggested he was. Although at times he also pretended to be very moderate, which is why some people called him a Rorschach test - people saw what they wanted to in him.

But secondly and more importantly, I realize now that being disagreeable is actually necessary sometimes. See, President Obama thinks that if he just acts reasonable and in good faith, the other party will, too. But it doesn't work that way. The other party is going to do whatever it takes to get the most it can for its agenda.

To be clear, I am under no illusion that you would necessarily have been more liberal than the President. At times I imagine you would have had similar economic policies as you might have hired similar people. Although at other times the President seems to be acting like a Reagan Democrat - which is actually not a Democrat at all - which would put you to the left of him.

But what is clear is that his lack of experience is translating into his being a poor negotiator. By refusing to stand up for liberal values, he is starting in the middle and having to move very far to the right. I believe that your strength and ability to disagree and to be disagreeable when necessary, as well as your greater experience, would have made you much more capable of dealing with the Republicans at this time.

Before I sign off, I do want to let myself off the hook a little bit. I must admit that you didn't campaign very well. You made a couple blunders (LBJ / MLK and the comment about white voters in Pennsylvania) and then refused to back down afterward. But I should have looked past that and realized experience is an important part of the job and while your experience wasn't overwhelming, it was more than Barack Obama's experience. And more importantly, I should have realized that you would have been a formidable negotiator and would have defended our values.

I'm sure this is little consolation to you now. But wrongs need to be admitted, and so I am admitting that I was wrong (notice I avoid the passive voice). I wish you the best in the future, and if you need my vote at any time (2012?), you'll have it.

Sincerely,
Brendan Cheney

Things You Won't Hear at a Baseball Game: We Want a Thermostat, Not a Thermometer!

The Times Magazine has an interview with Cornel West. Normally, I don't like these interviews. Maybe the medium is just difficult, but either way, the questioner comes off a little obnoxious and the interviewee (usually when it is a conservative) is often able to dodge hard questions or just give annoying and unsatisfying answers. But this one was good (maybe because it was a liberal).

I won't rehash the whole thing, but I do want to put in one question and answer:

How can Obama be the president you want him to be when he’s facing this Republican Congress?
I’ll put it this way, brother: You’ve got to be a thermostat rather than a thermometer. A thermostat shapes the climate of opinion; a thermometer just reflects it. If you’re just going to reflect it and run by the polls, then you’re not going to be a transformative president. Lincoln was a thermostat. Johnson and F.D.R., too.

I couldn't agree more.