Friday, December 26, 2008
Dr. Paul's prescription
Today he takes a look at the big picture for the restoration of the economy and the country, and here is where the comparisons to the New Deal work best.
The Obama administration, on the other hand, will find itself in a position very much like that facing the New Deal in the 1930s.But the Dr. has a remedy.
Like the New Deal, the incoming administration must greatly expand the role of government to rescue an ailing economy. But also like the New Deal, the Obama team faces political opponents who will seize on any signs of corruption or abuse — or invent them, if necessary — in an attempt to discredit the administration’s program.
First, the administration of the economic recovery plan has to be squeaky clean. Purely economic considerations might suggest cutting a few corners in the interest of getting stimulus moving quickly, but the politics of the situation dictates great care in how money is spent. And enforcement is crucial: inspectors general have to be strong and independent, and whistle-blowers have to be rewarded, not punished as they were in the Bush years.Paul does seem a bit touchy about Obama's choice of vacation spot, as if a luxury rental should be a problem for a prosperous couple . He seems to forget that at the height of the Depression, the public was notdisturbed that FDR called Hyde Park home.
Second, the plan has to be really, truly pork-free. Vice President-elect Joseph Biden recently promised that the plan “will not become a Christmas tree”; the new administration needs to deliver on that promise.
Finally, the Obama administration and Democrats in general need to do everything they can to build an F.D.R.-like bond with the public. Never mind Mr. Obama’s current high standing in the polls based on public hopes that he’ll succeed. He needs a solid base of support that will remain even when things aren’t going well.
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