There’s an article in today’s NYT on the economic debate within the White House. The print version—not the online one—contains this quote from an admin official:
“It would be political folly to make the argument that government spending equals jobs.”
Really? I mean, I get the reluctance, and certainly the “spending=jobs” frame, while essentially correct, may not be the right way to frame it.
But in fact, the best way to get people back to work right now, with consumers weakened and investment on the sidelines is through more government spending…it should be targeted and temporary, but jeez, the President himself has been making this point, and correctly pointing out that R’s are blocking him on it.
Far be it from me—I mean this—to advise the politicals as to what works. But I simply don’t believe it is “political folly” to tell the truth on this critically important point.