Real Time Thoughts on Meet the Press (July 25, 2010)

Today’s Meet the Press features headliner, Secretary of the Treasury Timothy Geithner.  The roundtable consists of a conversation about race in America.  Anita Dunn and Rick Santelli, amongst others, are about to jump in the ring and hash out their issues for good.  (And, if you believe you this, I’ll soon be the leading artist of the politics of our daily lives.)

Timothy Geithner is driving home the point that the economy will grow steadily over the medium turn, the next 18 months.  His argument is that structurally speaking, there’s a lot of demand pent up and as firms squeeze more productivity and demand goes up and outpaces that constrained level of productivity, hiring will increase.

The most interesting argument now, is whether the government should put out a new stimulus.  Geithner is arguing that though we can maintain some government push toward small business incentives, including tax cuts for small businesses, we can’t and shouldn’t try to stimulate the private sector.  Part of his argument is that given the low Fed interest rates and international confidence in the U.S. economy, we can afford business cuts and unemployment.  Interestingly, David Gregory is pointing out that well, that is the same argument that partisans like Paul Krugman martial to push for a new stimulus package. After all, its very cheap to pump money into teh economy and go into debt as long as the economy itself can pick up.

Secy. Geithner has come out and said that he supports letting the Bush tax cuts lapse.  His point is rather political, that the number of individuals who would be affected by the tax is small, and the broader economy can withstand that kind of dead weight loss.  (That is to say, that group of people cannot support a coalition that might vote GOP in 2010, or 2012.)

Let the Shirley Sherrod debate begin.  The question is: has the politics of race become regressive?E.J.Dionne, David Brooks, Anita Dunn, Rick Santelli, Marc Morial of the National Urban League are here to help us through this “teachable moment.”

Anita Dunn, the former Obama White House Director of Communications, who took a hard line against Fox News.   She’s hedging on Congressman Clyburn’s point that President Obama is skiddish about race, now that he’s in the White House.

E.J.Dionne has said something interesting: debates don’t matter, if facts that stand behind those debates don’t matter.  He is saying that the traditional media is very afraid of being tagged liberal, that it takes seriously every false charge that bubbles up from the right, particularly the right in the new media (blogosphere).

E.J. Dionne is saying: listen the NAACP did not say that the Tea Party is racist.  The argument that the NAACP made was that there are racists within the Tea Party and those elements should be repudiated by the Tea Party as a whole.  Note the posters, placards, Glenn Beck’s argument that Obama hates white people.  There are elements of the left that are charging people on the right as racists and so on, but that was hardly the point that the NAACP made.  The moral equivalence does not hold.

David Gregory has shown some polls and arguments showing that most Americans think they are about the same or worse off than they were a year ago.  This on top of the stimulus that obviously worked. Moreover Ron Brownstein has argued that even those who are used to thinking that an activist government is necessary in times of distress think that this time around government intervention has worked.

David Gregory is trying to get some coherence in the debate.  How does tax cuts help the right lower the deficit.  And if the left is saying that tax cuts don’t help lower the deficit and the government is saying that, then why not let all the tax cuts lapse at the end of the year.

E.J. Dionn is pointing out Warren Buffet has said that he pays less in taxes than his secretary. The way capital gains taxes work and other such taxes, the very wealthy actually pay a lower share in taxes given their income than do fire fighters, etc.  The reason why its good to let the tax cuts lapse, because they are not paying out what we think they are supposed to pay.

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~ by Faheem Haider on July 25, 2010.

One Response to “Real Time Thoughts on Meet the Press (July 25, 2010)”

  1. Real Time Thoughts on Meet the Press (July 25, 2010 ……

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