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THE PRAGMATIC POPULIST.
It's worth saying, in context of the post below, that I'm not smart enough to divine the optimum balance between risk and security, but, right now, I'm pretty sure we're too far towards the risk side of the equation. Which is why I like what Hillary Clinton's saying in this interview with David Leonhardt. “If you go back and look at our history, we were most successful when we had that balance between an effective, vigorous government and a dynamic, appropriately regulated market,” Mrs. Clinton said. “And we have systematically diminished the role and the responsibility of our government, and we have watched our market become imbalanced. I want to get back to the appropriate balance of power between government and the market.”
Context matters. The moment matters. The perceived problems matter. As Leonhardt notes, "Mr. Clinton was running for president when the federal budget deficit was much larger than it is now and the United States seemed to be falling behind Western Europe and Japan in economic competitiveness. Mrs. Clinton is running when the economy has grown at a healthy clip for six years but incomes for most Americans have barely outpaced inflation." And her take, in the interview with Leomhardt, reflects that fully. To call it populism is, in a sense, reductive. It's pragmatic, and, right now, a pragmatist, assessing the state of the country and the numbers coming out of the economy, has no choice but to be a populist.
COMMENTS (8)
Watching you talk yourself into supporting Clinton is depressing. What exactly about the "context" of Bill Clinton's presidency justified gutting welfare?
Posted by: Christmas | January 21, 2008 1:29 PM
Richard Whalen: Hillary's Secret Weapon
Robert Rubin, Bill Clinton’s former Treasury Secretary and now Hillary Clinton’s chief issues strategist, is preparing her economic program to head off a recession, drafting her position papers and writing her economic speeches, say sources close to Rubin. He would be a principal White House adviser on the economy in a future Clinton Administration.
Drawing on top-flight bipartisan economic talent assembled for his “Hamilton Project” at Washington’s Brookings Institution, Rubin has devised an initial $100 billion package of specific proposals, featuring tax credits and rebates and other fiscal measures to maintain the level of spending and the economy’s momentum.
Among those advising Rubin on the “Hamilton Project” to revitalize U.S. industry are Martin Feldstein, Chairman of the National Bureau of Economic Research, and Reagan’s top economic adviser; Alice Rivlin, Clinton’s budget director and a staffer at the Brookings Institution and Mark Zandi, president of Moody’s economy.com.
Posted by: JoeCHI | January 21, 2008 2:04 PM
"I want to get back to the appropriate balance of power between government and the market.”
Well, duh. Now let's ask BillC. and Bob Rubin (since JoeCHI seems to think his ideas are good for Americans, why telecommunications deregulation and repeal of Glass-Steagall (aka the "Citibank Enrichment Act") were such good ideas back in the 1990's?
Posted by: brewmn | January 21, 2008 4:27 PM
Among those advising Rubin on the “Hamilton Project” to revitalize U.S. industry are Martin Feldstein, Chairman of the National Bureau of Economic Research, and Reagan’s top economic adviser; Alice Rivlin, Clinton’s budget director and a staffer at the Brookings Institution and Mark Zandi, president of Moody’s economy.com.
Mark Zandi? Really? He's another one of those "there is no chance of a recession" guys.
Posted by: Joe Klein's conscience | January 21, 2008 5:12 PM
Just in case no one else here has noticed it yet, Ezra's post cinches it that Krugman has now officially thrown in the towel on Edwards and is backing Hillary – though given his position as a NYT Op-Ed columnist, he can't say this by naming names.
Exhibit A: compare his blog post from earlier today with what Ezra has posted.
Hardly a surprise, of course, but now there is no turning back.
Posted by: billyblog | January 21, 2008 6:55 PM
The Clintons have always run populist campaigns. They never deliver on their promises. They spend all their political capital getting free trade agreements passed and pushing through telecom consolidation.
Posted by: soullite | January 21, 2008 8:54 PM
Obama could end this on February 5 if he announced after SC that in the face of growing economic uncertainty he was revamping his healthcare plan to make it universal and advocating expanding both the EITC credit and eligbility by 8%.
Posted by: static | January 22, 2008 5:26 AM
Citibank? Can she really be that stupid? Even that bumble-butt Joe Kernan on CNBC scoffs that Rubin twiddled his pee-pee while Citibank execs flushed it down the toilet. Not exactly an electorally smart addition.
Hell, I think she has to worry about their shared past. Here comes the straight talk express, folks. She needs to unload that piece of shit.
Posted by: Anonymous | January 22, 2008 3:31 PM