OMB Director Orszag has been quite the feisty fellow, taking on the Republicans (or perhaps we should call them the Republics) directly and repeatedly over their non-proposals regarding the budget. He even quoted Reagan against them.
One thing I’d like to see less of, from administration spokesmen, but also from the media, is references to the Great Depression. I think at this point people get it, the economic is in bad shape. But, if we’re not careful, we may turn the current situation, bad as it is, into an economic 9/11. Not in terms of its gravity, but in terms of its psychological impact (not to go all Phil Gramm on everyone). At some point, watching that video of the Twin Towers falling, over and over and over again, went from informative to trauma-inducing. We get that the economy is in bad shape. We don’t need to keep telling people, over and over and over, and then giving them one more shove by mentioning the Great Depression. Let’s not create even more damage by unnecessarily scaring the hell out of people, and suppressing demand so much that we end up getting what we didn’t wish for.
Initially I thought Depression comparisons were necessary and relevant in order to impress the gravity of the current situation on the American people. Things have changed. The people now get it.
It’s time to call off the four horses.