Judd Gregg, who hates populism, had an extended hissy fit on MSNBC yesterday, when he was actually challenged to name what programs he would cut in the name of fiscal austerity. This is what always trips up these deficit hawks, who try to scare the public with their warnings about the deficit but don’t want to go on the record with the agenda of leaving the poor and the elderly to fend for themselves. I particularly liked this segment about education:
GREGG: Well, first off, nobody’s saying no money for schools. What an absurd statement to make.
BREWER: Well, I’m asking you, what we’re…
GREGG: And what a dishonest statement to make. On its face you’re being fundamentally dishonest when you make that type of statement.
This is from a guy who said that eliminating federal agencies was a “great idea,” and whose party has wanted to eliminate the Department of Education for over 30 years.
In reality, Gregg is a “deficit peacock,” someone who calls a lot of attention to himself with fears about “the deficit” but then, pressed for real answers to how to reduce the deficit, come up with gimmicks to hide their actual agenda. These are the people who say things like “the federal budget is like a family budget, and when things are tough, a family tightens their belt” (actually, no; they get another job).
That’s why it’s so depressing that the President came out with just such peacockery this week:
Wait, it gets worse. To justify the freeze, Mr. Obama used language that was almost identical to widely ridiculed remarks early last year by John Boehner, the House minority leader. Boehner then: “American families are tightening their belt, but they don’t see government tightening its belt.” Obama now: “Families across the country are tightening their belts and making tough decisions. The federal government should do the same.”
What’s going on here? The answer, presumably, is that Mr. Obama’s advisers believed he could score some political points by doing the deficit-peacock strut. I think they were wrong, that he did himself more harm than good. Either way, however, the fact that anyone thought such a dumb policy idea was politically smart is bad news because it’s an indication of the extent to which we’re failing to come to grips with our economic and fiscal problems.
The actual effects of this non-security discretionary spending freeze isn’t huge; letting the Bush tax cuts on the wealthy expire, moving to a saner health care system and ending unnecessary wars are the actual paths to fiscal stability. But this cedes rhetorical ground to a Republican Party which really wants to talk about deficits, not deal with them, now or in the future (and we shouldn’t deal with them at ALL in a time of mass joblessness). Triangulation is a tricky game; when you give so much to your foes, what you gain for yourself you lose for your colleagues.
The President did better at his question time today. But over the long term, failing to push back at these narratives will not just paint Democrats as weak, but cripple the nation.



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It’s almost funny that these political hacks almost get it. Debt is a serious problem. But none of them are serious about fixing that problem. Especially with so many economic geniuses advocating to spend, spend, spend, borrow, borrow, borrow. One place I disagree with Paul Krugman. If every American took his and other economic guru’s advice on getting out of their serious debt, the entire country would be repo’d. Can’t pay your mortgage? Borrow!
fiscal stability requires deficit spending.
james galbraith: Why Progressives Shouldn’t Fall For the Deficit Reduction Trap
fed gov deficit spending doesn’t work like household budgets (or firms, or state and local gov). fed gov spends in order to collect taxes. the rest of us have to find sources of revenue to fund spending.
I don’t understand why some people think that the federal government borrowing and spending money has a micro-example in a typical person who becomes unemployed. The two are not equivelant. Deficits are a problem but it can’t be reduced or even stopped until the economy gets rolling again. When the banks won’t loan money despite being loaned to them at historically low or no interest rates, tax rates are at a historical low–the only way left to stimulate economic growth is the only player left: the federal government who is the only player big enough to spend enough money to stimulate growth. The repubs would want a massive tax refund to rich people with the hope that is trickles down to the masses–St Reagan even gave up on that.
someone give him a bawl-preen hammer to use as a gavel.
Dudd Gregg is basically an id10t.
That is all.
If they really were serious, they’d immediately pass single-payer healthcare for all, followed quickly by a very serious look at military spending. Anything less is bullshit and should be characterized as such.
I thinkin’ of starting to knock over the Wells Fargo stages.
And this is the guy that Obama wanted on his team. I hope Obama is learning something.
Those “reporters” are gasbags. No offense to them, they’re typical. Never heard of Q&A. Where would you cut spending? How much would that save? You say you want to reform Social Security & Medicare. What are your proposals for that? How much would that save?
How hard is it to do that?
The federal govt is TBTF. It owns its creditors.
If only we could here the Sunday morning gasbags use that line of questioning when they are “interviewing.”
Dya think?
I was flabbergasted watching this…this Gregg dude is an embarrassment to New Hampshire and to the Senate. Sometimes I wonder about those New England states, and their state of mind when sending so called “representative” to Washington. I’m from Maine and consider my fellow New Englanders very progressive, dignified and fair minded – but when they elect this doofus as their Senator, it raises serious questions…
Never fear. David Gregory has Boner on “exclusively” this coming Sunday morning.
And you just know that Dancin’ Dave will just grill the shit outta him.
heh.
None of these people are serious about anything. You can’t “bend the cost curve” in healthcare without funcamentally changing the system and you can’t be serious about deficit reduction if you take defense off the table. Republican, Democrat — they’re all just fiddling while the country burns.
i’m not so sure…. :(
p.s. i’ve been trying to get dday to debate my assertion @3. no luck so far, but i’m happy to have anyone else who’s willing give it a try (i’ve actually become persuaded and am looking for a debate on the merits)
Isn’t money one of our great tools? Was it invented [3.5k yrs ago]so that it wld serve everybody equally? OK,a tool but not invented so that everybody earns ab same amount of money.
I mean, enough money to have a heated house, medical care, education, job security, etc.
Or was the inventor of money thinking of paying soldiers and generals to go to far off countries maiming-killing-destroying? No, probably not!?
But king did! And modern warlords and lords of the serfs do now!
So, deficits are scary things to warlords. By going to war the warlords obtain valuable real estate and the riches on in or in it. And it is always the warlords and master folk that benefits most from the riches of lands invaded or conquered.
or have the kings been stupid in waging wars for the last 7k yrs by waging wars and getting poorer for it? Are US war masters also stupid? I mean stupid because if the war is not waged for profit then it must be waged for fun or because of hate, etc?
And if they have no money they cannot have war[s]? Or? tnx
LOL! (love that gallows humor)
my bad. i should have included the illegal means, like counterfeiting.
Your assertion at 3 is accurate for the reason I gave at 11. Until it isn’t. But since it’s been true all along, at least for decades, who will behave as though it isn’t?
Couple that with the determination of EMs to pile gigundo reserves so they can thumb their noses at IMF & WB & Washington consensus, and you have a perfectly matched symbiotic economic cluster fuck.
So it will last until something “unexpected” happens to make it stop.
Gregory will be on his knees for the whole hour.
David,
If you bothered to watch the entire interview, Judd Gregg listed his suggestions for cutting the deficit contrary to your idiotic suggestion to the contrary. Additionally Gregg has a long record as a common sense fiscal hawk which is why Obama wanted him in the first place. To attack his “peacockery” as it were, is one thing to attack him for not identifying specific deficit targets and specific deficit reducing legislation is barking up the wrong tree.
Here’s a little video that lays out the typical television news broadcast.
http://www.huffingtonpost.com/2010/01/29/charlie-brooker-on-how-to_n_441672.html
They catch a bunch here. No big operations, just not-so-bright folks tryin’ to make a buck.
right. can’t say it would be true for all time. just for now (and only since nixon went off gold std). for example, $ loses global reserve status, my assertion might still be true but so what, if we have negative policy space in which to operate. and that’s an expected “unexpected” so i’m sure there are tons more i can’t even imagine.
i sorta liked galbraith’s Apocalypse Not Yet from 2004 (he updated it in a talk he gave i think last year — i listened to it last year anyway.) is that the kind of thing you mean? or something else?
Gregg is a MORON!
i lied. i’m pretty sure the galbriath talk i was thinking of was from 2008, The Generalized Minsky Moment ( audio)
i’m a little confused on what qualifies as a common sense fiscal hawk (vs bat shit crazy)
The Democrat line needs to be that we don’t need less spending, we just need better spending.
So don’t decrease the military budget, just stop spending it on unneeded wars and use a bunch of it to train a greater number of doctors and nurses in the military. They can continually practice setting up mobile hospitals all around the United States and offering free care to anyone that walks in the door.
The military ends up better off in terms of capabilitys and in terms of public image. And the general public’s keisters get pulled from the fire while our politicians continue to fiddle.
Likewise, put an end to Mr Geithner’s money funneling to the banks and spend that money instead on stabilizing State Government budgets. Money poured into Wallstreet has no economic value but keeping our civil servants employed has much economic value.
also, while i’m at it, galbraith’s talk in 2007, The Cult of Zero, is also imo on topic. (audio)
Well, the “deficit hawks” who don’t believe that we should raise more taxes are daily making more and more students (and their parents) here in California realize the real costs of the “Party of No”. It’s clear they want the public Universities to “privatize” and force the burden on students to pay higher tuitions…they’ve just increased another 30% on top of 10% last year, and a likely 20% increase next year. That’s what I call the “Republican tax”- on the Middle Class and poor.
In return the students get this…I teach two 55 student sections. Between the two I’ve just reached the 50 student mark for students on the waiting list…all of which will be unable to be admitted. I’m still fielding emails from students tonight who are desperate to add…who will have to add a semester or more to their academic careers (another Republican “tax”). Then there are the students who will not have enough units to retain their financial aid, or full time status. Thank Tim Tebow’s God that we won’t lose any “student-athletes”…they get priority in all their classes. It’s the lowly “student-students” that get screwed.
Gregg is a Hooverian, another name for a moron. Evidently, however, Obama is a Hooverian too.
Yes a true Moron. To think Obama wanted Him in His administration.
This is just one more moron that cared not for any fiscal responsability when Bush was in office. Now He wants to paint Obama as a debt magnet.
MSNBC had Him on, so they ask for it, and forced it on us.
As long as they keep giving these people air time; they will continue to think their big shots.
All the trouble they have caused, they could not have caused, if the Media had not covered their every word and repeated it a thousand times.
It’s a lot like kicking God of the pulpet, and giving the devil the mic.
Poor Judd. The deficit commission is being pushed by him, Kent Conrad and Pete Orszag, the three musketeer grads from boarding school Phillips Exeter and pawns of the Petey Peterson campaign to destroy Medicare and Social Security. You have to love the hypocrisy of rich brats taking the food out of the mouths of the poor. – fwdpost.com
There’s actually 2 explanations for what OBama’s doing.
Is he the bipartisan boy scout?
Or is he moving to the right because he’s not progressive?
If he moves to the right, just like Joe Lieberman wants, he can always say “bipartisan” and it looks bipartisan. But what if it’s just moving to the right. Naked.
Oh and banks and military contractors LOVE budget freeze.