Friday, June 24, 2011

Nation building

Jamie Galbraith compares Obama speech to JFK's American University speech (here).  And then picks up Obama's preoccupation with Nation building at home and asks:
"President Obama rightly stressed the need to restore our strength and prosperity at home: to create jobs, to rebuild infrastructure, to meet the challenges of energy and climate. In this he called us all to a “common purpose.” Will this vast task now get underway? Will a program follow? Will it dispel the deficit-and-debt doomsayers who degrade today’s economic debates?"
Sadly, I doubt it. How can he do that and try to get more funds for his reelection from Wall Street (read more here)?  Hope springs eternal.

2 comments:

  1. It's highly improbable. The White House is already carefully shifting the economic narrative from fiscal expansion to deficit reduction as an economic-growth strategy. I now see why Bernstein and Goolsbee jumped the ship.

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  2. Jared at least was an important inside force for reasonable policies. Goolsbee is a incognita.

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