By Dave Anderson:
Matt Yglesias is being obtuse as he feigns confusion as to why Senate Republicans are voting against Bernacke despite Bernacke's promise to tie the anchor of 10% unemployment around the Democrats' necks for the next five years.
it�s somewhat baffling to me that six Republicans on the Senate Banking Committee voted no on his nomination. Bernanke�s approach, at the end of the day, makes GOP wins in 2010 and 2012 very likely.
To have it both ways --- get ahead of bash the bankers crowd that is legitimately pissed off @ 10% unemployment and a decade of no-wage gains already and the prospect of another decade of stagnant wages (if we are lucky), and get the policy that will produce 10% unemployment... smart politics on the part of the Republican Party.
Liberals and Democrats hung Heckuva Job Brownie and Bernie Kerik around Bush's neck. Those millstones stuck because one lose a city and the other was amazingly indictable as soon as anyone with grand jury access decided to take a look at him. Both individuals epitomized the basic critique of the Bush Administration's policy (non)making system and its attendant results.
Republicans are attempting to hang Bernacke around Obama's neck as a symbol of tolerated incompetence and promotion after unacceptable results. And guess what, I think it will work as the GOP will run ads that say ' Senator X voted for Bernacke to be appointed, after Bernacke said he was fine with 10% unemployment. Conservative Candidate Y approves this message because he wants to put America back to work again..."
No comments:
Post a Comment