Obama Remains Open Minded

[one...two...tree 2,762]

I wish they would just friggin' STOP the bailouts and stimuli and the out-of-control borrowing and spending that got us into this mess in the first place.

Doesn't any of what most of the economists have been saying (that we need a stimulus) jive with you?

The same economists who predicted $200 oil by the end of 2008?

Oh yeah, Krugman. Recession was always his main theme - he's been predicting a recession

since the last recession. And now, lo and behold, finally - a recession!

"Right now it looks as if the economy is stalling..." — Paul Krugman, September 2002

"We have a sluggish economy, which is, for all practical purposes, in recession..." — Paul Krugman, May 2003

"An oil-driven recession does not look at all far-fetched." — Paul Krugman, May 2004

"A mild form of stagflation - rising inflation in an economy still well short of full employment - has already arrived." — Paul Krugman, April 2005

"In fact, a growing number of economists are using the "R" word [i.e., "recession"] for 2006." - Paul Krugman, August 2005

Yeah, that Krugman. What does he know that you don't know betta. When are you going to get the Nobel, Mark?

Fancy.... Mark's quotes are more of a "WOW!!!!" moment. Give credit where credit is due. Nice research Mark.

Krugman wasn't off...he saw elements within the economy that were tearing at the seams. There were key things that were done in terms of economic policy that delayed what he saw coming, which actually made the recession far worse than it would have been had the housing market bubble burst 2 or even 4 years ago. In fact, the Bush Administration had lifted the Federal Reserve oversight on financial institutions that didn't have huge capital..

[Danno 1,228]

In other words....

Even a broken clock is right... twice daily?

[Pooky 3,794]

I wish they would just friggin' STOP the bailouts and stimuli and the out-of-control borrowing and spending that got us into this mess in the first place.

Doesn't any of what most of the economists have been saying (that we need a stimulus) jive with you?

The same economists who predicted $200 oil by the end of 2008?

Oh yeah, Krugman. Recession was always his main theme - he's been predicting a recession

since the last recession. And now, lo and behold, finally - a recession!

"Right now it looks as if the economy is stalling..." — Paul Krugman, September 2002

"We have a sluggish economy, which is, for all practical purposes, in recession..." — Paul Krugman, May 2003

"An oil-driven recession does not look at all far-fetched." — Paul Krugman, May 2004

"A mild form of stagflation - rising inflation in an economy still well short of full employment - has already arrived." — Paul Krugman, April 2005

"In fact, a growing number of economists are using the "R" word [i.e., "recession"] for 2006." - Paul Krugman, August 2005

Well, ya know if ya say receshun offen enuff, ya gonna get it rite one day. Only took im seven years.

[luckytxn 2,264]

So pretty much we have the same old tired ####### huh? Whne is this change going to come?

Bunch of sheep getting trimmed as I predicted.

[Scott & Lai 12]

I hope he can my condo equity back up to what it was before

I hope he can get us into a condo before that happens...because there is no way we can afford one at the former obscenely inflated prices

[Mr. Big Dog 10,747]

It all makes sense now: the Bushies attack the concept of an open mind which their fcuked up idol obviously never had.

[one...two...tree 2,762]

...the Obama team released a new report (pdf) this morning, outlining the expected effects of its economic rescue package. What are some of the various experts thinking, now that they have a document to chew on? The plan still isn't ambitious enough. Paul Krugman, after praising Obama's team for actually producing "comprehensible, honest" reports like these, instead of "case studies in how to lie with statistics" -- Bush gang, I think he's talking to you -- nevertheless concludes that the nation needs a bolder approach.

[E]ven if I use the Romer-Bernstein estimates instead of my own -- there really isn't much difference -- this plan looks too weak.

James Galbraith is thinking along the same lines, but seems considerably more pessimistic.

Jonathan Cohn adds, "To sum up, the big question here isn't really about what the stimulus package will do. As best as I can tell -- and I'm sure I'll hear quickly if I'm wrong -- the Obama team, Krugman, and Galbraith all think it will have roughly the same effects. The question is whether the package is sufficient to address the present crisis. Krugman and Galbraith clearly think it isn't."

The response to the report from lawmakers will also be of particular interest. Tim Fernholz mentioned this morning that he expects "Democratic members of Congress to look at" the modest expectations from the Obama transition team, "consider their reelection prospects, and wonder if maybe they ought to make the bill just a bit bigger so that unemployment line will drop just a bit lower as voters head to the polls; nothing like seeing self-interest and good public policy go hand-in-hand."

Right. If Obama is effectively telling lawmakers what kind of performance they can buy for $775 billion, they'll naturally consider even better performance for a higher price tag.

And as Matt Yglesias noted, that will probably be fine with the new president: "Nothing I've heard on the record or off the record from the Transition indicates that they have some kind of dogmatic opposition to a larger stimulus. What they have is a proposal. A proposal made up of a number of component sub-ideas. And they've said -- repeatedly -- that they're open to additional ideas for more things to do from congress or from outside."

http://www.washingtonmonthly.com/

[spookyturtle 9,466]

I'm glad Obama is going to have an open mind. We see what a closed mind has done for the country for the past 8 years.

[one...two...tree 2,762]

I'm glad Obama is going to have an open mind. We see what a closed mind has done for the country for the past 8 years.

For kin folk, they call that having resolve.

[spookyturtle 9,466]

I'm glad Obama is going to have an open mind. We see what a closed mind has done for the country for the past 8 years.

For kin folk, they call that having resolve.

I guess Bush was stubborn and didn't adjust his course, even when it was going in the wrong direction.

[w¡n9Nµ7 §£@¥€r 123]

I'm glad Obama is going to have an open mind. We see what a closed mind has done for the country for the past 8 years.

For kin folk, they call that having resolve.

Don't forget the old line about having a set of principles to base decisions on!

[bhajishah 4]

Open minded, ?? does that mean he gonna start smoking the hashish again. maui wowie etc..???

[bhajishah 4]

Goodness gracious where were you raised? in a tent ??Hell everyone knows that resolve means we aint gonna stand for any more of that BS they keep flinging @ as. and we gonna duck @ the shoe throwers. common sense peoples

[Mr. Big Dog 10,747]

I'm glad Obama is going to have an open mind. We see what a closed mind has done for the country for the past 8 years.

[Danno 1,228]

I'm glad Obama is going to have an open mind. We see what a closed mind has done for the country for the past 8 years.

For kin folk, they call that having resolve.

I guess Bush was stubborn and didn't adjust his course, even when it was going in the wrong direction.

Thats funny, I am complaining that Bush was TOO open minded.

Lets see he

Gave congress all the money they wanted.

He went across the isle on illegal immigration.

He followed the democrat lead by giving free meds to "ALL" seniors ...even if they are as rich as Warren Buffet.

He even opened his invasion of Iraq up for a vote and input... nearly every one agreed.

He gave away billions of dollars to Africa for Aids.

He and Ted Kennedy held hands while they worked on No-child-left-behind.

Maybe you should list as many things that he could have... and should have been more flexible on?