The President Who Cried “Recovery”

“You can only talk about ‘things are going to get better’… for so long and be a cheerleader for so long before it has to actually happen. And that’s the role of policy, not communications, is to actually make things better.”

Matt McDonald, NPR’s Morning Edition, August 11, 2001.

I could not believe my ears yesterday morning when listening to this segment on NPR. It was actually a fairly critical segment on President Obama’s constant cheerleading about the state of the economy, despite firm evidence to the contrary.

That said, I actually think the segment was a bit too hard on the President. After all, when speaking to the American people, should President Obama urge them to lower their expectations like President Carter so infamously did? Of course not.

However, I appreciate NPR’s effort to provide more balanced coverage of the President.

About Sean Patrick Hazlett

Finance executive, engineer, former military officer, and science fiction and horror writer. Editor of the Weird World War III anthology.
This entry was posted in Business, Finance and Economics, Media, Policy, Politics, Predictions and tagged , , . Bookmark the permalink.

4 Responses to The President Who Cried “Recovery”

  1. Cody says:

    I think it’s very realistic that we lower our expectations, and that’s precisely what I would tell people. At some point, all of this malinvestment and debt has to be liquidated if we want to start seeing healthy growth again. The longer we continue to try stimulating, QE policy, and propping up bad markets, the more we’re just postponing, and ultimately worsening, the liquidation necessary for recovery.

  2. Scott Erb says:

    I do think many on the left, including the President thought the stimulus and cheap credit would work more quickly. I think they under estimated the structural imbalances that I think have been amassing for nearly 30 years. I do think the stimulus did some good, especially for state governments. I think people all around the political spectrum are starting to realize this is a true economic crisis (recession + unsustainable debt in much of the industrialized west), not just another recession.

  3. Cody says:

    Speaking of recovery, what do you make of the recent 11th circuit decision striking down the individual mandate in the health care plan? I’m curious to see what the Supreme Court will eventually have to say about it, and I’m sincerely hoping the court spikes it hard into the face of progressives.

    • Cody,

      The individual mandate is about the only thing that is good about the PPACA. This is where I break with conservative ideology for more pragmatic reasons. The problem with the American healthcare system as that it invites adverse selection. That is, the people who are more likely to buy health insurance are those more likely to need it. Those who are less likely to buy it (i.e., the young), are less likely to need it. By making it mandatory and have everyone pay into the system, you actually lower an individual’s overall cost. The reason I like it, is because it is about the only stipulation in the bill that will actually lower cost. If this provision goes away, the bill falls apart, in my opinion.

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