Cutting Off Your Nose To Spite Your Face

Economy, education, Politics, Uncategorized, US Economy, US Politics

It seems like a new Republican mantra has broken free from the dark corridors where is was previously consigned to furtive whispers: they want Obama to fail.  I understand that Obama is pushing for many policies that don’t fit with the Republican party line, but how can you want him to fail?  What does an Obama failure look like for the United States?  Unemployment over 10%?  Numerous failures in the US manufacturing sector?  Significant erosion in the soft power of the US, much of which stems from our economic position in the world?  Is that what Republicans are hoping for?  How can a Republican congressman go back to his or her constituents and defend this position?  The governor of South Carolina has gone so far as to say he wants to use S.C.’s share of the stimulus money to pay down South Carolina’s debts instead of trying to create new jobs.  Since South Carolina’s unemployment rate is 10.4%, the second highest in the nation, you might think that the governor would decide to create more jobs, but even as the state is furloughing teachers and moving to larger class sizes, Governor Stanford is turning away help for politics.

Of course we’re all guilty of this to some extent.  If we absolutely don’t want anyone whose irresponsible behavior put them into loans they can’t afford to be bailed out, will we refuse to bail out those who need it?  Isn’t that letting a few bad apples spoil the whole bunch?

The reality of Obama’s crisis intervention effort is that in order to help the many, we are going to help some of the few who arguably don’t deserve it.  We’re going to save companies who screwed up playing fast and loose with other people’s money.  We’re going to offer hedge funds golden deals to toss their capital into the recovery effort.  Some people are going to make millions and some in need will fall through the cracks.  But if this Keynesian economic package comes through, we’re going to land our plane with both engines blown in the river instead of ending up strewn as wreckage across the shore and that’s going to help a lot of people.  If it works, I’ll read those articles about those who made out while grinding my teeth, just like everyone else, but it will be money well spent.  I’m hoping for success.

3 Comments

2 Comments

  1. jo cunningham  •  Jun 7, 2009 @5:30 pm

    I’m sorry this site has devolved, as I liked following all your thoughts.

    I’d appreciate it if you individually work up your own blogs, that you’d give links for them here.

  2. engineer  •  Jun 8, 2009 @5:18 am

    Thanks Jo. I’m sorry we couldn’t sustain the momentum we had when President Bush was driving all of us crazy. I keep coming up with (what I think are) good ideas and think about starting up again, but I know that I’d be lucky to get one article a week up and that’s not going to keep us going. Thanks for the support.

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