Sunday, November 23, 2008

Strange days

It looks like, despite his campaign promise, Obama may well refrain from reversing the Bush tax cuts.

I must say that it is very strange that we're going to have a President that makes politics a means for doing the right thing, rather than an end in itself--and that "the right thing" is determined empirically with the aid of experts in the relevant field. Economists of every stripe agree that what is needed is massive economic stimulus, including not just government spending directed in the right places but tax cuts, too (even so-called deficit hawks--whose main concern is keeping deficit spending in check--are saying 'screw the debt').

Is Obama some kind of awesome, pure politician? No. Ultimately, I think most Presidents do the right thing in a crisis situation, Democrat and Republican alike. It's just that this Bush fellow has strayed from that tradition, and it is a shock to the system to return to normalcy.

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