{"id":226988,"date":"2010-01-25T12:13:47","date_gmt":"2010-01-25T17:13:47","guid":{"rendered":"tag:business.theatlantic.com,2010:\/\/3.34125"},"modified":"2010-01-25T12:06:56","modified_gmt":"2010-01-25T17:06:56","slug":"obama-must-defend-stimulus-in-state-of-the-union","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/226988","title":{"rendered":"Obama Must Defend Stimulus in State of the Union"},"content":{"rendered":"<p>The knock on Obama since the Republican upset in Massachusetts is that he pursued health care reform in 2009 to the exclusion of job stimulus. I don&#8217;t get it. The government passed a $800 billion stimulus plan over wide Republican opposition and bailed out Detroit for $50 billion (not to mention the Federal Reserve&#8217;s trillions of dollars spent buying mortgages and bad assets and bringing interest rates down near zero). That doesn&#8217;t sound like excluding job stimulus to me.<\/p>\n<p>Moreover, it turns out that Americans don&#8217;t like the way Obama focused on job creation. There&#8217;s a new CNN poll (via <a href=\"http:\/\/politics.theatlantic.com\/2010\/01\/little_faith_in_the_stimulus_money.php\">Chris Good<\/a>) finding that 75% of the American people think at least half of the stimulus money was an utter waste. Even though I think this is wrong, I understand where the anger is coming from.<\/p>\n<p>First let&#8217;s look at what the stimulus actually does. The bill has a lot<br \/>\nof items, but 40 percent of the ARRA went to something Americans tend<br \/>\nto like a lot: Tax cuts &#8212; about $250 billion for individuals and $35<br \/>\nbillion for businesses. Another big category was about $180 billion of <a href=\"http:\/\/projects.nytimes.com\/44th_president\/stimulus\/aid-to-states\">state aid<\/a> to avoid deficits that would have resulted in hundreds of thousands of job losses. Another $100 billion went to <a href=\"http:\/\/projects.nytimes.com\/44th_president\/stimulus\/education-and-job-training\">education<\/a>. Another <a href=\"http:\/\/projects.nytimes.com\/44th_president\/stimulus\">$70 <\/a>billion<br \/>\nextended unemployment insurance and health care for recently laid off<br \/>\nworkers. The overall goal of the stimulus might have been to juice<br \/>\nproduction, but much of it went to give Americans more money to spend, and give states more money to maintain payrolls.<\/p>\n<p>There is a lot of generalized anger in this country. Many Americans are<br \/>\njuxtaposing the high unemployment rate, frustrating health care reform<br \/>\nprocess and bank profit headlines and concluding: Obama ignored jobs.<br \/>\nThey&#8217;re telling pollsters things like &#8220;the stimulus was a waste&#8221; and<br \/>\nalso, &#8220;unemployment is too high for government inaction.&#8221; The message<br \/>\nseems to be: <i>The stimulus was a waste, we need more stimulus!<\/i><br \/>\nObama has to respond to that anger, even if he thinks it&#8217;s confused. He<br \/>\nneeds to remind Americans where the stimulus money went, how future<br \/>\nstimulus spending will target joblessness even more exactly, and why<br \/>\nhealth care reform fits into the narrative of our long term economic<br \/>\nrecovery.<br \/><br clear=\"both\" style=\"clear: both;\"\/><br \/>\n<br clear=\"both\" style=\"clear: both;\"\/><br \/>\n  <a style='font-size: 10px; color: maroon;' href='http:\/\/www.pheedcontent.com\/hostedMorselClick.php?hfmm=v3:4067bd292cd6f3dc004a8cc0fee87a7f:Zal1L7wuJvojo68KKn%2FjDtoUQgHAQW342iOc9NWM3Ec65A3DdC3ACPaQHSe%2B%2F0TUYZ2JJCnrd7N%2F'><img border='0' title='Email this Article' alt='Email this Article' src='http:\/\/images.pheedo.com\/images\/mm\/emailthis.png'\/><\/a><br \/>\n  <a style='font-size: 10px; color: maroon;' href='http:\/\/www.pheedcontent.com\/hostedMorselClick.php?hfmm=v3:71778b5dc78c835bb85235a9800ab438:Mo7UwGiQ89V9vteLzqAsWQY9Vm2PAu%2FdkqGIH%2FOIDr64TJLW8X1%2Fisry1lpo0vsy9W%2BGklnE7N0x'><img border='0' title='Add to digg' alt='Add to digg' src='http:\/\/images.pheedo.com\/images\/mm\/digg.gif'\/><\/a><br \/>\n  <a style='font-size: 10px; color: maroon;' href='http:\/\/www.pheedcontent.com\/hostedMorselClick.php?hfmm=v3:3d91aac5dffcd48f85e9e33f71ccbf88:W2MdYwcBSrMtGyluJ237F0a4NGb9FpjePcz4QNDbnNfWDKe48omeA1EQVtqOHx08v6CfRddPC5LH'><img border='0' title='Add to Reddit' alt='Add to Reddit' src='http:\/\/images.pheedo.com\/images\/mm\/reddit.png'\/><\/a><br \/>\n  <a style='font-size: 10px; color: maroon;' href='http:\/\/www.pheedcontent.com\/hostedMorselClick.php?hfmm=v3:9ec55a9f3e56b6fb9950e6d9298c2724:DEGC3aeiamCrKaUpZEp0j%2FzCIsAJY%2FoM%2BnKkp00Gp15L5Mz3GGzLef5pZH1wxpBjduEHxk9jQRcd7g%3D%3D'><img border='0' title='Add to Twitter' alt='Add to Twitter' src='http:\/\/images.pheedo.com\/images\/mm\/twitter.png'\/><\/a><br \/>\n  <a style='font-size: 10px; color: maroon;' href='http:\/\/www.pheedcontent.com\/hostedMorselClick.php?hfmm=v3:f398c0884a909d5a50afc897aa3b6ca9:9edvzy8Sokni3URv5w9D%2B3PR547xTS%2FkdCpWZuzwXYCdW59U1IRDOmSBmaKlIjrLB9C6%2Frvqk0ty'><img border='0' title='Add to del.icio.us' alt='Add to del.icio.us' src='http:\/\/images.pheedo.com\/images\/mm\/delicious.gif'\/><\/a><br \/>\n  <a style='font-size: 10px; color: maroon;' href='http:\/\/www.pheedcontent.com\/hostedMorselClick.php?hfmm=v3:a8a6f58cbfb54df63bf7dcfc7b5a0e76:zZyHgNClFj3ISHAfV%2F2RWVDXlJZjo6PAbqVS%2FK%2BgSMrGRC6QC7TYGGSl1EH7Qy0aWQ3wDcVCIXiLrw%3D%3D'><img border='0' title='Add to StumbleUpon' alt='Add to StumbleUpon' src='http:\/\/images.pheedo.com\/images\/mm\/stumbleit.gif'\/><\/a><br \/>\n  <a style='font-size: 10px; color: maroon;' href='http:\/\/www.pheedcontent.com\/hostedMorselClick.php?hfmm=v3:b964e108b07c3612e4525e148debb757:UTGBh3Xpv%2FcJauaKeku%2FZSdkM6VFzNHO36s6WwcpiAl97z4SfJeL655vOTKSIxg2fUE%2BBfeQH5L39g%3D%3D'><img border='0' title='Add to Facebook' alt='Add to Facebook' src='http:\/\/images.pheedo.com\/images\/mm\/facebook.gif'\/><\/a><br \/>\n<br clear=\"both\" style=\"clear: both;\"\/><br \/>\n<a href=\"http:\/\/ads.pheedo.com\/click.phdo?s=828764d7e5103f671ac3d676ad95f0bb&#038;p=1\"><img decoding=\"async\" alt=\"\" style=\"border: 0;\" border=\"0\" src=\"http:\/\/ads.pheedo.com\/img.phdo?s=828764d7e5103f671ac3d676ad95f0bb&#038;p=1\"\/><\/a><br \/>\n<img loading=\"lazy\" decoding=\"async\" alt=\"\" height=\"0\" width=\"0\" border=\"0\" style=\"display:none\" src=\"http:\/\/a.rfihub.com\/eus.gif?eui=2225\"\/><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/AtlanticBusinessChannel\/~4\/qeAcFb5c3NM\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The knock on Obama since the Republican upset in Massachusetts is that he pursued health care reform in 2009 to the exclusion of job stimulus. I don&#8217;t get it. The government passed a $800 billion stimulus plan over wide Republican opposition and bailed out Detroit for $50 billion (not to mention the Federal Reserve&#8217;s trillions [&hellip;]<\/p>\n","protected":false},"author":1534,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-226988","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/226988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1534"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=226988"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/226988\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=226988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=226988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=226988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}