POTUS SPEECH THIS WEEK ON LONG-TERM DEFICIT REDUCTION.... This has the potential to go badly....
by Steve Benen
Once Democrats commit to systematic debt reduction as policymakers' principal goal -- as opposed to, say, economic growth -- it sets the terms of the debate. The unyielding dynamic locks everyone into answering the same question: how do we tackle the deficit and the debt?
That's the question Republicans (and much of the media) want as the central focus, but there are more pertinent and important questions that should be prioritized, such as, "How about a jobs plan to reduce unemployment?" Or maybe, "How will taking money out of the economy and reducing public investment lead to more growth?"
What's more, it also sets baselines for a "compromise." If Obama presents a credible vision for long-term debt reduction this week, we'll have one pillar, which will serve as a counterweight to Paul Ryan's radical House budget plan presented a few days ago. But a moderate counterweight may not be wise -- if recent history is any guide, negotiations will produce a deal that's somewhere between them.
In this case, that'd be a disaster.
Even half-way to Ryan's roadmap would destroy much of the modern American social compact, and prove devastating to the middle class. Assuming that congressional Republicans are interested in a sincere, good-faith discussion about fiscal responsibility is folly. If this week's presidential speech simply presents a sensible answer to a dubious question, without regard for the larger political dynamic, the White House will be making a serious mistake.http://www.washingtonmonthly.com/archives/individual/2011_04/028879.phpIn July 2009, The Atlantic named Benen one of the top 50 most influential political commentators in the United States. He is a frequent guest on MSNBC’s The Rachel Maddow Show and an occasional contributor to the New York Daily News.