Magical Thinking

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Paul Krugman on the notion that Barack Obama blew it by not focusing more on jobs:

So when you say Obama should have focused more, what policies are you talking about? A bigger stimulus? As far as I can tell, almost no pundits are saying that. So what other concrete policies do they have in mind? I have never gotten an answer.

The notion seems to be that if Obama had spent the past 20 months going around with furrowed brow, saying, “I’m focused on the economy”, this would have (a) somehow created jobs (b) made people feel better about 9.6 percent unemployment.

Krugman, of course, has been vocal about the fact that Obama should have pushed for a bigger stimulus. Others have pointed at the foreclosure mess and suggested that a better-designed HAMP would have helped the economy. But Krugman is right: the actual people who keep claiming that Obama needed to focus more on jobs haven’t generally gotten on either of these bandwagons. They just seem to think there’s some kind of magic that would have either improved things or, at least, cheered everyone up even though they didn’t have actual jobs. But what?

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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