The bloggers were right, it was about the jobs, jobs, jobs. For the first half of the year all the progressive bloggers were saying that the November election is going to turn out very, very badly for Democrats if they don’t focus on jobs. We said please, please drop this “austerity” nonsense, the only way to cut the deficit is to grow the economy. We were going kind of nuts about it, saying if you don’t spend money on jobs the voters will punish you.
But the administration and many in Congress were busy on an “austerity” fad. The “centrists” and the big-media pundits and the rest of the “serious people’ were saying we needed to do something about the deficits because “the markets” wanted them to.
So here we are. The bloggers were right (I include Paul Krugman among us), and the voters are punishing the politicians who listened to the same old DC elite pundits and campaign consultants and party insiders who demanded “austerity” cutbacks for We, the People.
For example, May 11, I wrote in It’s The JOBS, Stupid! Why DC Elites Don’t See This:
People care about jobs. They still care about jobs. And politicians who don’t care about jobs will lose their jobs, because that is what motivates voters.
I concluded the May 26 post, Teacher Layoffs Loom Nationwide, DC Restaurants Humming, Jobs & Justice
President Obama has talked about a bold, large scale vision for a new direction for the country. But Congress and the President are getting trapped in austerity budget thinking that won’t allow them to go in the direction of stimulus and helping regular people. If there is to be no money because of an austerity budget then American competitiveness, the economy and the mood of the public can only get worse. Do the DC elites actually believe the public is going to reward this with votes?
The real deficit is jobs. That is one more of those things that everyone can see in front of their faces, but we’re told it isn’t what it is.
. . . The excuse is that “the markets” will “lose confidence” in us. Apparently we aren’t working the salt mines hard enough. “The markets” — that’s the crowd who got in trouble and insisted that the world would end unless we immediately handed over to them all the rest of the money in the world — will “lose confidence” in our ability to work the mines hard enough, and will cut us off, unless we cut our pensions, sell off (to them) our resources, and promise never to be lazy and make demands for better wages, pensions, workplace safety, and do it now.
August’s Where Are The Jobs, Jobs, Jobs, Jobs, Jobs, Jobs? began:
The economy is stuck. We need jobs, jobs, jobs, jobs, jobs, jobs jobs, jobs, jobs, jobs. Not tax cuts.
Why is it that often the progressives come to a consensus on an issue, while the DC elite, the campaign consultants, the big-media pundits and the “centrist” politicians come to their own different conclusion, and then later it turns out that the progressives were right not just on the policy but on the politics, and the DC-centrist-consultant-pundit class were wrong. This happens time after time after time on the things that matter.
Well, I have to say it: We told you so.