Kudos to Matt Miller for his explanation of how “Obamanomics” represents a major shift in fiscal philosophy that while “revolutionary” still won’t at all be easy to implement:
…Those of us who worked in Bill Clinton’s budget office thought we did a pretty good job cleaning up the mess we inherited, before the Florida debacle in 2000 gave the GOP a chance to play “Starve the Beast” for a decade more. But Clinton himself, who felt compelled after the GOP blowout in 1994 to declare that “the era of big government is over,” never really slipped the spiritual straitjacket off “Starve the Beast” in the first place.
With President Obama’s first budget we are therefore embarking on an epic new paradigm which deserves its own metaphor. Though it’s a little clunky, for symmetry’s sake we may as well call it “Feed the Beauty.”
In fiscal terms, the failed wager of “Starve the Beast” was that spending would eventually shrink to come in line with lower taxes. The tacit wager of “Feed the Beauty” is that taxes will eventually rise to come in line with higher spending. Why? Because Americans will, over time, come to realize that the government we want is actually worth paying for (as opposed to having our children borrow money from the Chinese to pay for it, the de facto “plan.”) The paradox of this revolution in governing philosophy is that its success relies on the same underlying political dynamic. Instead of fiscal sanity depending on pols doing something the American people won’t like (cutting popular programs), it will now depend on pols doing something the American people won’t like (raising taxes)…
And speaking of the Chinese and our children owing money to them, comedian Bill Maher has his own reasons for worrying about that… Watch if you want to know what the “Snuggie” has to do with fiscal responsibility. (Warning: not appropriate for younger children to watch due to language.)