- Oct 9, 1999
You're likely to find 100 Congressmen/women who would rather sign a new "FREE" trade agreement than find 1 to even think about doing what I have bolded. Remember, we'll be just fine and dandy with the new service sector economy. :whiste:The President owns the economy from Day One because he's ultimately responsible for leading the country, and the President never owns the economy because his power is inherently and intentionally limited. Obama's supermajority was the most power a President has had over the economy in my lifetime, and even that was only absolute party power for eight months. And even there, he's limited by the self-interest of party and cohorts who want to get re-elected and can only be pushed and bribed so far. The nearest thing I can recall was Reagan, who had a unique ability to go over the press to the American people and could therefore shame the Democrats into giving him what he wanted - for a price. So there really can't be a definitive answer, just one side desperately trying to claim credit for every good thing that happens whilst dodging blame for every bad thing that happens, and the other side desperately trying to deny that credit and affix that blame.
This same situation is also why I think we're arguing over fractions of a point rather than points in growth and unemployment. We've lost much of the wealth-producing work we used to have, which kills the effect of stimulus be it tax cuts or redistribution of seized wealth or borrowed spending.
Rather than fewer unions, perhaps what we need are more unions, specifically high tech unions running training programs that train the well-paid, highly technical workers these companies claim to need. And of course, revamped laws and tax codes that favor companies producing domestically and penalize companies producing abroad. It should be axiomatic that we can't all be designers and marketing consultants and telephone sterilizers if we want to consume real products, but we ought to be able to construct a reasonably productive economy that achieves much of our current (largely borrowed) material wealth without our rivers catching fire and our middle schoolers working production.
The corporations have been pulling the foundation out (middle class solid jobs that build wealth) for years. The building has been very shaky and propped up with sticks. If some work isn't done on the foundation and soon, we all know what's going to happen....