Current Issue
Back Issues
 Subscribe to BartBlog Feed
How to Read
Members ( need password)
Subscribe to BartCop!
Contact Us
Advertise With Us
Link to Us
Why Donate?
The Forum  -
The Reader
Poster Downloads
Shirts & Shots
BartCop Hotties
More Links
BFEE Scorecard
Perkel's Blog
Power of Nightmares
Clinton Fox Interview
Part 1, Part 2
Money Talks
Cost of Bush's greed
White Rose Society
Project 60
Chinaco Anejo


Search Now:
In Association with

Link Roll
American Politics Journal
Barry Crimmins
Betty Bowers
Consortium News 
Daily Howler
Daily Kos
Democatic Underground 
Disinfotainment Today 
Evil GOP Bastards
Faux News Channel 
Greg Palast
The Hollywood Liberal 
Internet Weekly
Jesus General
Joe Conason 
Josh Marshall
Liberal Oasis
Make Them Accountable 
Mark Morford 
Mike Malloy 
Political Humor -
Political Wire
Randi Rhodes
Rude Pundit 
Smirking Chimp
Take Back the Media
More Links


Locations of visitors to this page
<>It's 1938 in 2010
 by Paul Krugman


Here’s the situation: The U.S. economy has been crippled by a financial crisis. The president’s policies
have limited the damage, but they were too cautious, and unemployment remains disastrously high.
More action is clearly needed. Yet the public has soured on government activism, and seems poised
to deal Democrats a severe defeat in the midterm elections.

The president in question is Franklin Delano Roosevelt; the year is 1938. Within a few years, of course,
the Great Depression was over. But it’s both instructive and discouraging to look at the state of America
circa 1938 — instructive because the nature of the recovery that followed refutes the arguments dominating
today’s public debate, discouraging because it’s hard to see anything like the miracle of the 1940s happening again.

Now, we weren’t supposed to find ourselves replaying the late 1930s. President Obama’s economists
promised not to repeat the mistakes of 1937, when F.D.R. pulled back fiscal stimulus too soon. But by
making his program too small and too short-lived, Mr. Obama did just that: the stimulus raised growth
while it lasted, but it made only a small dent in unemployment — and now it’s fading out.

And just as some of us feared, the inadequacy of the administration’s initial economic plan has landed it
 — and the nation — in a political trap. More stimulus is desperately needed, but in the public’s eyes the
failure of the initial program to deliver a convincing recovery has discredited government action to create jobs.

In short, welcome to 1938.

I keep reading, "Now that the federal tax incentives for housing are over, the market is flat,"
and "Now that the cash-for-clunkers program is over, car sales are flat." and so on.

Why did Obama let those two great jobs-creating programs fade away?
I believe it's because The Bitch and The Boner didn't like them.

Tally says we should be nicer to Obama, but when is he going to ACT instead of kissing GOP ass?

Obama needs to learn how to say, "*I* won the election, you can go fuck yourself,"
but he wants to be nice to the people who hate him and want America to fail.

  Back to

Send e-mail to Bart

Privacy Policy
. .