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If the worst economic depression of the last seventy years were a play, it’s genre would no doubt be classified as a tragedy. Two pundits lay out the players.
Republicans block an extension of unemployment benefits, rail about the deficit and complain that Democrats don’t understand that economic renewal will come when the private sector is unleashed. The problem is that since Republicans are in the minority, they have to work with the Democrats to get anything done. I suspect that their strategy — standing on the sidelines and yelling, “The Democrats are doing it all wrong!” — will not win as much favor from voters as the GOP hopes.
Democrats.
Democrats, on the other hand, do have the power to enact an agenda. But individual members of Congress act as if they are more concerned about their own electoral prospects than about bringing those unemployment numbers down. If a second economic stimulus is the answer, then that’s what Democrats should do. If the answer is something else, fine. But they should know that whether they call themselves progressives or Blue Dogs or whatever, voters see them as one party and will hold them accountable.
Seventy years ago, Americans found themselves in the depths of despair. The economy had crashed, unemployment was at 25 percent, people lined up at bread lines and soup kitchens, and nearly everyone was reeling in anxiety at what the future held for them. But as dire as things were, few Americans expected an immediate remedy. What they expected was some sort of action. Franklin Roosevelt first boosted morale by promising to tackle the problem and then set about on a long course to do just that — a course that wouldn’t conclusively end until World War II. Through it all, the country by and large demonstrated extraordinary maturity and patience. It persevered.
In our current economic travails, the public attitude is strikingly different. Americans want the economic disaster to be over now, and we are angry that it isn’t. We don’t have time for financial reforms or pump-priming or a long-term transformation to a green economy. We expect a magic wand. And who can blame us? Unlike our forebears, we live in a society in which nearly everything happens instantly. Impatience is the new American way.
Will the wishes of a self-serving few in Congress determine the final act?
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