UPDATED BELOW, 1:35 MDT
Via Shakesville, Corrente, and pretty much every other political blogger today–go read Elizabeth Drew’s “What Were They Thinking?” which gives an overview of recent political history as well as her prediction that history will not smile on the political leadership we’re stuck with today:
Someday people will look back and wonder, What were they thinking? Why, in the midst of a stalled recovery, with the economy fragile and job creation slowing to a trickle, did the nation’s leaders decide that the thing to do—in order to raise the debt limit, normally a routine matter—was to spend less money, making job creation all the more difficult? Many experts on the economy believe that the President has it backward: that focusing on growth and jobs is more urgent in the near term than cutting the deficit, even if such expenditures require borrowing. But that would go against Obama’s new self-portrait as a fiscally responsible centrist.
There’s lots of interesting gossip and inside baseball about the President’s re-election maneuverings, the different goals of Mitch McConnell, John Boehner, and Eric Cantor; and the recent negotiations over raising the debt ceiling. I agree with her perspective for the most part, but the last sentence of the article strikes me as wrong:
This country’s economy is beset with a number of new difficulties, among them that recovery from the last recession remains more elusive than was generally expected, while the US is confronting a variety of international economic instabilities, especially the large debts and possible default of several countries in the eurozone, bringing on unpopular austerity measures. Recent experience with what should have been a simple matter of raising the debt ceiling, normally done with no difficulty, is reason for deep unease about our political system’s ability to deal with such challenges.
Saying that the “political system” isn’t up to the challenges of 2011 and beyond is pretty vague–what does she mean? The U.S. Constitution? The two-party system? It’s unclear, but as I’ve said here before: it’s a mistake to see President Obama’s failures or the failures of the Democratic Party as failures of the U.S. Constitution or the political system in general. Continue Reading »