Professor DeLong considers the weakness in the U.S. job market and wonders why the Bush administration hasn’t responded with a “quick-fix” plan:
It is a substantial mystery–why there was nobody inside the Bush administration arguing for a good old-fashioned Keynesian fiscal stimulus program that got money to the people most likely to spend it. Even though their forecasts at the end of 2002 were predicting swift employment growth, there is always the questions, “What if something else bad happens?” You would certainly expect political operatives to ask it.
It is for this other other [sic] reasons that I find myself shifting my view of the George W. Bush administration. Political hacks seem to have less influence than I had thought. Anti-pragmatic ideologues–people who *know* what the truth is, *know* that it is sunny outside, and don’t bother to raise the windowshade to check–have more influence than I had thought.
Good observation. I’ve also wondered why the administration didn’t at least act like they were trying to do something new to bolster the economy. I guess it’s easier to just say “we’re turning the corner.” Or perhaps they’re concerned about alienating the base by offering any additional “big government” solutions.