Friday, April 27, 2012
This chart by Philip Klein has some interesting information of GDP growth for the March of presidential reelection years. But the biggest takeaway is perhaps that, as of March 2012, Obama is heading into a general election with the worst unemployment rate of any incumbent since World War II. Only one president won reelection with an unemployment rate above 6% in the March of an election year: Ronald Reagan in 1984 (when unemployment was 7.8%). Currently, unemployment is (at least) 8.2%.
Wednesday, April 25, 2012
Loans and Economics
Kelly Evans reflects on the student loan situation, noting the poor job prospects of many Americans:
Yet part of this might be an economics problem, not just a loan financing one. Policy makers need to think about how new mid-level jobs can be encouraged.
And this all comes as globalization and technological change have upended once-reliable career paths, wiped out many mid-level professional jobs and leave low-paying fields in health, food and beverage services, and retail as among the fastest growing job markets over the next decade.
Labels:
economy,
student loans
Double Trouble
Austerity has not saved the British economy, it seems: the UK enters a double-dip recession:
The Office for National Statistics said Britain's gross domestic product fell 0.2 percent in the first quarter of 2012 after contracting by 0.3 percent at the end of 2011, confounding forecasts for 0.1 percent growth.
Most economists had expected Britain's $2.4 trillion economy to eke out modest growth in the early 2012, but these forecasts were upset by the biggest fall in construction output in three years coupled with anaemic service sector growth and a fall in industrial output.Wednesday's figures will be a deep blow for Britain's Conservative / Liberal Democrat coalition, which has slid in opinion polls since a poorly received annual budget statement in March and risks embarrassment at local elections on May 3.The government is also under pressure over revelations about its close relationship with media tycoon Rupert Murdoch.The government desperately needs growth to achieve its overriding goal of eliminating Britain's large budget deficit over the next five years.
Tuesday, April 24, 2012
Executive Reach
The New York Times reports on Obama's growing use of executive power:
But increasingly in recent months, the administration has been seeking ways to act without Congress. Branding its unilateral efforts “We Can’t Wait,” a slogan that aides said Mr. Obama coined at that strategy meeting, the White House has rolled out dozens of new policies — on creating jobs for veterans, preventing drug shortages, raising fuel economy standards, curbing domestic violence and more.Each time, Mr. Obama has emphasized the fact that he is bypassing lawmakers. When he announced a cut in refinancing fees for federally insured mortgages last month, for example, he said: “If Congress refuses to act, I’ve said that I’ll continue to do everything in my power to act without them.”Aides say many more such moves are coming. Not just a short-term shift in governing style and a re-election strategy, Mr. Obama’s increasingly assertive use of executive action could foreshadow pitched battles over the separation of powers in his second term, should he win and Republicans consolidate their power in Congress.
As this story demonstrates, those who would expand centralized power often cloak their efforts in the rhetoric of crisis.
Monday, April 23, 2012
College Students Up For Grabs
Mitt Romney's announcement that he supports an extension of low student loan interest rates may be good politics: it suggests that he is open to the concerns of the young. (And, despite the outrage on some comment threads, it's not exactly clear how this is a tremendous betrayal of conservative values. If conservatives really are concerned about dealing with student loans in a free-market way, they have an outlet available to them: allow for student loans to be discharged in bankruptcy. It's not clear to me at least why higher interest rates on student loans are now the sine qua non of TrueConservativism.)
The terrible job market for the young could eventually be Obama's undoing with that demographic. Obama's approval rating has hovered in the low 50s with this group throughout much of the year (though it has ticked upwards a little bit over the past few weeks). America's youth seem to be on the fence about the president. Supposed coolness and reputedly "soaring" speeches don't pay the bills of America's young people. Reagan was able to win a generation in the early 1980s with his message of economic opportunity for all in the face of Jimmy Carter's malaise.
A lot of recent Republican talking points have emphasized guaranteeing government benefits for the currently middle-aged and elderly (the Ryan budget, for example, would guarantee gold-plated Medicare to everyone over the age of 55). Now might be a good time to pivot to the message of growth for all Americans, especially for the young. Providing economic opportunity for the young is a means of providing for income security for older Americans.
The terrible job market for the young could eventually be Obama's undoing with that demographic. Obama's approval rating has hovered in the low 50s with this group throughout much of the year (though it has ticked upwards a little bit over the past few weeks). America's youth seem to be on the fence about the president. Supposed coolness and reputedly "soaring" speeches don't pay the bills of America's young people. Reagan was able to win a generation in the early 1980s with his message of economic opportunity for all in the face of Jimmy Carter's malaise.
A lot of recent Republican talking points have emphasized guaranteeing government benefits for the currently middle-aged and elderly (the Ryan budget, for example, would guarantee gold-plated Medicare to everyone over the age of 55). Now might be a good time to pivot to the message of growth for all Americans, especially for the young. Providing economic opportunity for the young is a means of providing for income security for older Americans.
Labels:
Barack Obama,
Mitt Romney,
Ronald Reagan,
student loans
Sunday, April 22, 2012
Loss in Space
Charles Krauthammer has a very sharp column on the death of the space shuttle. Krauthammer is particularly right to note that public policy is in part about keeping one's eyes on long-term tendencies:
This is a theme Romney might emphasize: we can no longer afford not to invest in the future.
Who cares, you say? What is national greatness, scientific prestige or inspiring the young — legacies of NASA — when we are in economic distress? Okay. But if we’re talking jobs and growth, science and technology, R&D and innovation — what President Obama insists are the keys to “an economy built to last” — why on earth cancel an incomparably sophisticated, uniquely American technological enterprise?The decline of the space shuttle shows how much President Obama (and much of the rest of the Washington elite) has focused on weakly maintaining the present, even as the present economic model (anti-manufacturing, high-borrowing, and so forth) becomes more and more unsustainable. Washington has decided it would rather spend billions on unemployment benefits rather than investing in the future sources of new employment, innovation, and discovery.
We lament the decline of American manufacturing, yet we stop production of the most complex machine ever made by man — and cancel the successor meant to return us to orbit. The result? Abolition of thousands of the most highly advanced aerospace jobs anywhere — its workforce abruptly unemployed and drifting away from space flight, never to be reconstituted.
Well, you say, we can’t afford all that in a time of massive deficits.
There are always excuses for putting off strenuous national endeavors: deficits, joblessness, poverty, whatever. But they shall always be with us. We’ve had exactly five balanced budgets since Alan Shepard rode Freedom 7 in 1961. If we had put off space exploration until these earthbound social and economic conundrums were solved, our rocketry would be about where North Korea’s is today.
Moreover, today’s deficits are not inevitable, nor even structural. They are partly the result of the 2008 financial panic and recession. Those are over now. The rest is the result of a massive three-year expansion of federal spending.
This is a theme Romney might emphasize: we can no longer afford not to invest in the future.
Friday, April 20, 2012
Immigration Tactics
David Frum reflects on immigration politics:
Meanwhile, DrewM wonders whether Republicans really want to get into a discussion of the DREAM Act now:
America's growing Hispanic population increasingly votes Democratic for economic reasons. The Hispanic population is poorer than the American norm—median household income of about $38,000—and favors more activist government. The hope that Republicans could win votes among them by championing more open immigration was always delusive. The thinking behind that hope was based on stereotypes: Mexico is a heavily Catholic country, therefore Mexican immigrants should vote for the pro-life GOP on cultural grounds—even though actual Mexican-American voters have amply demonstrated a preference for the Democratic party on substantial economic grounds.
This mismatch between GOP assumptions and Hispanic voting preferences is widening in the age of the Tea Party.
How does the Ryan plan sound from the point of view of a Hispanic voter: surely it sounds like a plan to tax younger Hispanics to pay for the Medicare benefits of white retirees and near-retirees—and then yank away the full Medicare benefits just when Hispanics begin to qualify for it in large numbers?Marco Rubio may imagine that he can make this mismatch go away by endorsing some version of the DREAM Act. He's kidding himself.
Meanwhile, DrewM wonders whether Republicans really want to get into a discussion of the DREAM Act now:
We’re going to grant the premiss the Democrats have been running on that this is something we have to act on (separate from border security/enforcement)
We’re going to do this to try and win votes of voters who will simply say, “Um, why should I support your half-assed measure when the other guys are offering me the whole thing?”
We’d also offer the Democrats a new and exciting line of attack…”Republicans think you’re good enough to work for them and fight and die for this country but not to vote”. Some enterprising liberal will no doubt find a way to equate that with slavery. Fun times!
And while we’re getting no credit or votes from this, we’ll also be doing the Democrats job for them by driving a wedge between members of our party.
If Rubio really goes ahead with this it will do significant damage to the GOP and Mitt Romney (who will have to pick sides between seeming anti immigrant or the GOP’s enforcement first base. He’ll get no credit if he goes with the former and will be bashed if he sides with the latter).
You know who would love to run on who can be more pro-amnesty than anyone? Barack Obama, that’s who.
Tommy Christopher tries desperately to distract from the poor performance of the Obama administration's economic policies. Jeff Goldstein responds.
LAUSD to Embrace One-Size Fits All Model?
The Los Angeles Unified School District considers a significant revision of the curriculum:
So, in order to force all students into a single mold, the LAUSD would be willing to sacrifice curriculum variety under this proposal.
This change might cause a major shakeup in the school system however:
So only about 15% would have been eligible to graduate last year if these reforms had been put in place. In a school system already so troubled, it's not clear why a one-size-fits-all curriculum approach would be desirable.
All Los Angeles Unified high school students would have to take advanced courses such as algebra, physics and a foreign language and earn at least a "C" in order to graduate under a sweeping change in curriculum being considered by the school board.
The proposal outlined Tuesday is part of an effort to make every LAUSD graduate meet the minimum standards for admission to the UC and CSU systems.
Besides requiring the advanced courses, students would have to earn a "C" in those classes to get their diplomas. Currently, LAUSD considers "D" to be a passing grade.
To help students meet those tough new standards, the district would shrink the graduation requirement from 230 to 170 units, making it optional to take any electives, such as health or technology classes.
That would leave students' schedules open to repeat classes or get tutoring during the school day, officials said, because summer school is no longer an option after budget cuts.
So, in order to force all students into a single mold, the LAUSD would be willing to sacrifice curriculum variety under this proposal.
This change might cause a major shakeup in the school system however:
LAUSD has been pondering the college prep A-G curriculum for several years. The Board of Education passed in 2005 a nonbinding resolution recommending that every student entering ninth grade be required to pass it, beginning in 2012. Nothing was done until last year, when Aquino was tasked with coming up with a plan.
In 2005, some teachers urged the board not to approve the college prep plan, as many LAUSD students were not able to meet basic academic requirements and there was concern the new curriculum might lead to more dropouts. LAUSD already has an estimated 50 percent dropout rate.
The challenge facing the district in implementing A-G and getting students to pass it with a "C" is demonstrated with an analysis of the Class of 2011. Had the new standards been in place, roughly 8,000 of the 53,900 students in the class would have met the requirement.
So only about 15% would have been eligible to graduate last year if these reforms had been put in place. In a school system already so troubled, it's not clear why a one-size-fits-all curriculum approach would be desirable.
Wednesday, April 18, 2012
Heightening the Contraditions in Education Reform
Conservative approaches to education reform may in the next few years encounter a fateful fork in the road. One long tradition of conservative educational theory has stressed the value of vouchers as a way of decentralizing education and providing state subsidies directly to parents (rather than routed through local school systems) for their children's education. A newer movement on the right has embraced standards-based accountability, where students and, increasingly, teachers will be evaluated according to the measures of certain standardized tests and complicated (and unproven) statistical models. At the moment, these twin strategies have been used to reorient radically local public school organizations. Louisiana has become ground zero for these twinned approaches, having recently approved a massive expansion of vouchers (HB976) and new reforms making teacher employment contingent upon student performance on standardized exams and opaque value-added modelling (HB974). However, there is an increasingly obvious tension between these two approaches. The voucher movement emphasizes pluralism; current "accountability" models emphasize uniformity. Eventually, one tendency will have to win out.
Under the old model of education funding, federal and state government provided various subsidies to various school systems based on student populations and certain legal mandates. Under this model, the case for vouchers is relatively straightforward: if the government provides $8000 for a student to go to an unaccountable public school, why not give the parents this amount to send their child to an unaccountable private school? (Yes, there are numerous interesting reasons why this may not be a good idea, but let's leave those to the side for the moment.) If not entirely persuasive, this case is at least understandable. It puts power directly in the hands of the parents and encourages competition between various scholastic enterprises in something resembling an educational marketplace.
The rise of testing-based accountability measures immeasurably complicates this argument for vouchers. Under No Child Left Behind and Race to the Top, public schools have to demonstrate their performance on certain standardized measures in order to receive funding. Race to the Top further centralizes educational affairs by encouraging states to adopt a nationwide core curriculum and by emphasizing a testing-driven component for teacher evaluations. The argument on behalf of such measures is that public dollars demand proof that they will be spent in a valuable way, and standardized testing is, apparently, the best way to establish this value. (Yes, this argument may be flawed in many, many ways, but let us leave that to the side for the moment as well.) If one wants to establish a centralized, federally-run public school system, No Child Left Behind and Race to the Top provide a sturdy foundation for that enterprise.
If, however, one wants to support a pluralist, voucher-driven kind education reform, this movement toward standards-based accountability could prove much more problematic. If the premise of this accountability is that public dollars require proof of effectiveness, what is the reason for demanding that a school run as a public institution (that is, a public school) should be held to any different standard than a school run as a private institution? Both would receive tax dollars from state and potentially local and federal governments: why should they be held to two different standards?
For the moment, many on the right have chosen to ignore this pressing question. Louisiana's latest round of "reforms," for instance, specifies the standards for granting teachers tenure and for removing teachers. However, these standards only apply to public schools; they do not apply to the charter and private schools that could receive voucher money. The state is effectively giving public schools less flexibility than it provides private schools on matters of personnel.
However, the Louisiana voucher bill also opens the door to further bureaucratic burdens on private schools. This bill has a provision that mandates that the state superintendent devise an "accountability system" for students at voucher schools. This aspect of the bill suggests a tendency for the future: to start to hold out to private schools the promise of government money with an increasing number of strings attached. Once you've bought into the idea that standardized testing establishes a school's quality, it becomes harder to resist the idea that public money ought to go only to those private entities that have demonstrated their effectiveness in teaching. Moreover, these standards for accountability will, as both Louisiana and federal reforms demonstrate, tend to come from bureaucrats working in central government offices.
Under a universalized voucher program and homogenous standards system, the federal government, which would be the engine that de facto drives education policy under this "reformist" vision, would have increasing control over private schools. Why? Over a period of years, private schools would become increasingly dependent upon government tax dollars, and he who pays the piper picks the tune. Maybe not now, maybe not a few years from now, but eventually legislators and regulators could start placing further demands upon these newly dependent private schools. After all, if education is truly in a state of crisis, shouldn't government be demanding the best from schools in exchange for the taxpayer's hard-earned dollars?
This would be a dangerous road to go down from a conservative perspective. It could lead to a near-nationalization of most of the nation's schools, private and public. A proliferation of educational models has been one of the strongest parts of American education; the conversation between these models has led to new innovations and intellectual achievements. It would be no great exaggeration to say that the American university system, envied by many across the world, is the product of this conversation between various scholastic models.
Conservatives need to be careful. George W. Bush's No Child Left Behind has done more to nationalize education than any other policy measure in recent memory. By placing impossible demands upon schools (e.g., continual progress toward perfection culminating in 100% proficiency for all students), this policy laid the groundwork for the power-grab of Barack Obama's Race to the Top and federal waivers that allow states to opt-out of No Child Left Behind's requirements if they give away further local control of education to the federal government. Purportedly "conservative" policy led to thoroughly "progressive" results. Some on the right may see a combination of standardized testing and voucher systems as a way of striking at teachers unions, but conservatives may soon find this anti-union weapon turned against themselves and small-government aims. For the past decade or so, numerous "conservatives" have chosen big bureaucracy over smaller, local government when crafting education policy. As the price of this choice becomes clearer, perhaps some on the right will change their minds. At the moment, centralized, testing-driven education "reform" seems on a collision course with educational pluralism.
Under the old model of education funding, federal and state government provided various subsidies to various school systems based on student populations and certain legal mandates. Under this model, the case for vouchers is relatively straightforward: if the government provides $8000 for a student to go to an unaccountable public school, why not give the parents this amount to send their child to an unaccountable private school? (Yes, there are numerous interesting reasons why this may not be a good idea, but let's leave those to the side for the moment.) If not entirely persuasive, this case is at least understandable. It puts power directly in the hands of the parents and encourages competition between various scholastic enterprises in something resembling an educational marketplace.
The rise of testing-based accountability measures immeasurably complicates this argument for vouchers. Under No Child Left Behind and Race to the Top, public schools have to demonstrate their performance on certain standardized measures in order to receive funding. Race to the Top further centralizes educational affairs by encouraging states to adopt a nationwide core curriculum and by emphasizing a testing-driven component for teacher evaluations. The argument on behalf of such measures is that public dollars demand proof that they will be spent in a valuable way, and standardized testing is, apparently, the best way to establish this value. (Yes, this argument may be flawed in many, many ways, but let us leave that to the side for the moment as well.) If one wants to establish a centralized, federally-run public school system, No Child Left Behind and Race to the Top provide a sturdy foundation for that enterprise.
If, however, one wants to support a pluralist, voucher-driven kind education reform, this movement toward standards-based accountability could prove much more problematic. If the premise of this accountability is that public dollars require proof of effectiveness, what is the reason for demanding that a school run as a public institution (that is, a public school) should be held to any different standard than a school run as a private institution? Both would receive tax dollars from state and potentially local and federal governments: why should they be held to two different standards?
For the moment, many on the right have chosen to ignore this pressing question. Louisiana's latest round of "reforms," for instance, specifies the standards for granting teachers tenure and for removing teachers. However, these standards only apply to public schools; they do not apply to the charter and private schools that could receive voucher money. The state is effectively giving public schools less flexibility than it provides private schools on matters of personnel.
However, the Louisiana voucher bill also opens the door to further bureaucratic burdens on private schools. This bill has a provision that mandates that the state superintendent devise an "accountability system" for students at voucher schools. This aspect of the bill suggests a tendency for the future: to start to hold out to private schools the promise of government money with an increasing number of strings attached. Once you've bought into the idea that standardized testing establishes a school's quality, it becomes harder to resist the idea that public money ought to go only to those private entities that have demonstrated their effectiveness in teaching. Moreover, these standards for accountability will, as both Louisiana and federal reforms demonstrate, tend to come from bureaucrats working in central government offices.
Under a universalized voucher program and homogenous standards system, the federal government, which would be the engine that de facto drives education policy under this "reformist" vision, would have increasing control over private schools. Why? Over a period of years, private schools would become increasingly dependent upon government tax dollars, and he who pays the piper picks the tune. Maybe not now, maybe not a few years from now, but eventually legislators and regulators could start placing further demands upon these newly dependent private schools. After all, if education is truly in a state of crisis, shouldn't government be demanding the best from schools in exchange for the taxpayer's hard-earned dollars?
This would be a dangerous road to go down from a conservative perspective. It could lead to a near-nationalization of most of the nation's schools, private and public. A proliferation of educational models has been one of the strongest parts of American education; the conversation between these models has led to new innovations and intellectual achievements. It would be no great exaggeration to say that the American university system, envied by many across the world, is the product of this conversation between various scholastic models.
Conservatives need to be careful. George W. Bush's No Child Left Behind has done more to nationalize education than any other policy measure in recent memory. By placing impossible demands upon schools (e.g., continual progress toward perfection culminating in 100% proficiency for all students), this policy laid the groundwork for the power-grab of Barack Obama's Race to the Top and federal waivers that allow states to opt-out of No Child Left Behind's requirements if they give away further local control of education to the federal government. Purportedly "conservative" policy led to thoroughly "progressive" results. Some on the right may see a combination of standardized testing and voucher systems as a way of striking at teachers unions, but conservatives may soon find this anti-union weapon turned against themselves and small-government aims. For the past decade or so, numerous "conservatives" have chosen big bureaucracy over smaller, local government when crafting education policy. As the price of this choice becomes clearer, perhaps some on the right will change their minds. At the moment, centralized, testing-driven education "reform" seems on a collision course with educational pluralism.
Labels:
education,
Louisiana,
No Child Left Behind,
Race to the Top,
Tea Party,
teachers,
unions
Tuesday, April 17, 2012
Wall Street Bets on Kennedy
Joseph Kennedy III, running to replace retiring Democratic Congressman Barney Frank, recently filed his quarterly campaign finance reports with the FEC. Kennedy is off to a fast start, raising over $1.3 million in the first quarter.
Some of the haul comes from traditional Democratic activist groups (Hollywood, labor PACs, and so forth), but no small portion of it comes from Wall Street. Kennedy received individual donations of $2500 each from executives affiliated with the following firms: Citigroup, Millennium Capital, Morgan Stanley, Bank of America (including a former chairman), BlackRock, the Marshall Group, QueensFort Capital, the Capital Group, and Boston Capital. And those are only some of the marquee names in Kennedy's list of Wall Street-related contributors. Frank, former chair of the House Financial Services Committee, also had numerous allies on Wall Street. He has praised Kennedy highly.
Kennedy's leading Republican rival, Sean Bielat, has raised $175,000 in the first quarter. High finance was not so generous with Bielat.
Some of the haul comes from traditional Democratic activist groups (Hollywood, labor PACs, and so forth), but no small portion of it comes from Wall Street. Kennedy received individual donations of $2500 each from executives affiliated with the following firms: Citigroup, Millennium Capital, Morgan Stanley, Bank of America (including a former chairman), BlackRock, the Marshall Group, QueensFort Capital, the Capital Group, and Boston Capital. And those are only some of the marquee names in Kennedy's list of Wall Street-related contributors. Frank, former chair of the House Financial Services Committee, also had numerous allies on Wall Street. He has praised Kennedy highly.
Kennedy's leading Republican rival, Sean Bielat, has raised $175,000 in the first quarter. High finance was not so generous with Bielat.
Labels:
2012,
Congress,
Joseph Kennedy III,
MA-04,
Sean Bielat
Monday, April 16, 2012
Voucher supporter Chester E. Finn suggests that there could be further bumps in the road for the nationwide push for vouchers: concerns about religious education and organizational autonomy may slow the voucher movement.
Bill Frezza comments on the disproportionate regulation of the Obama era:
We know for a fact that enormous sums of money legally off limits have disappeared into the maw of disgraced Senator John Corzine's gambling counterparties, all of whom seem to have taken the oath of omerta. We know that Corzine personally asked employees at MF Global, the financial firm he headed until recently, to transfer the funds. We know that his underlings balked at signing false statements attesting the transfers to be legal. So how is it that the man ultimately responsible for this brazen theft and spectacular bankruptcy gets away with performing a perfunctory Sergeant Schultz "I know nothing" routine in front of his old Senate buddies, after which he is left free to walk out the door without handcuffs?
Meanwhile, marine biologist and whale watching ship captain Nancy Black faces 20 years in prison, not for "harassing" whales (which believe it or not is a crime), but because she has been charged with lying to Justice Department prosecutors investing allegations that some of her crew members whistled at a whale to keep it hanging around their boats.
Sunday, April 15, 2012
Defending Mitt Romney's conservatism, Ann Coulter thinks outside the box, noting that 2012 is not 1980:
And restoring the economy could be the fastest way to cut government spending.
Similarly, sometimes it seems as if Republicans' only move on the economy is to cut taxes. With the highest corporate tax rate in the world, there's much to be said for cutting taxes. But, unlike when Reagan ran for president, it's going to take a lot more than tax cuts to rescue this country from its $16 trillion debt.
When Reagan took office, the top marginal tax rate in this country was a staggering 70 percent. Lowering that to 28 percent was an enormous shot in the arm to the economy.
Cutting the top tax rate today from 35 percent to 30 percent -- or even 20 percent -- cannot possibly have the same dramatic effect. Republicans, as the only responsible party, are going to have to do something that's never been tried before in Washington: Cut government spending.
And restoring the economy could be the fastest way to cut government spending.
Friday, April 13, 2012
Style over Substance
Politico lays out what looks to be Obama's current reelection strategy: claiming that Mitt Romney is, like, totally uncool:
As Jay Cost suggests, this style-driven narrative might not be the most effective:
He may not drink or cheat, and he lacks the fictional ad-maker’s charisma, but Democrats, despite the potential perils of such a strategy, remain determined to paint Romney as a throwback to the “Mad Men” era — a hopelessly retro figure who, on policy and in his personal life, is living in the past.However, the 1950s witnessed less economic inequality and greater job growth than Obama's term has.
President Barack Obama has noted the presumptive GOP nominee uses archaic turns of phrase such as “marvelous” and warned in an email to donors Thursday that his rival would usher in “a social agenda from the 1950s.”
As Jay Cost suggests, this style-driven narrative might not be the most effective:
Clearly, this is not an ideal strategy, for any candidate. Typically, successful reelection campaigns – e.g. 1936, 1956, 1972, 1984, and 1996 – have been based on narratives about how the country has turned a corner, thanks to the incumbent’s greatness. Think “Nixon’s The One!” “It’s Morning In America” or “Bridge To The 21st Century.” None of that applies to President Obama, who instead looks to tar Mitt Romney as the evil stepchild of J.P. Morgan and Barry Goldwater.
Labels:
2012,
Barack Obama,
inequality,
Jay Cost,
Mitt Romney
Thursday, April 12, 2012
Inequality: A Double-Edged Sword
James Pethokoukis is trumpeting a study that purports to show that income inequality has not increased (at least according to Pethokoukis's interpretation). Personally, I have some doubts about what the study cited by Pethokoukis really shows. But let's put those doubts aside for a moment and turn to another issue.
By the standard that shows growing income inequality since 1980 (the standard of economist Emmanuel Saez and others, which looks at income), Obama's administration has been worse for income inequality than Bush's, as Matt Stoller notes:
Republicans don't need to run from the inequality fight. Obama's big-government approach seems to have only exacerbated inequality, as a wealthy few have the ability and influence to manipulate government to benefit themselves. There's a reason why GE's corporate tax bill is smaller than the sales tax on a Big Mac in New York City.
Some on the left seem to be waking up to the fact that, for all his talking points, Obama's administration might not be the biggest friend of the little guy. The stagnation of the Obama economy has been felt the most by the working (or at least would-be working) and middle classes. Republicans can argue for both economic dynamism and egalitarianism.
By the standard that shows growing income inequality since 1980 (the standard of economist Emmanuel Saez and others, which looks at income), Obama's administration has been worse for income inequality than Bush's, as Matt Stoller notes:
Yup, under Bush, the 1% captured a disproportionate share of the income gains from the Bush boom of 2002-2007. They got 65 cents of every dollar created in that boom, up 20 cents from when Clinton was President. Under Obama, the 1% got 93 cents of every dollar created in that boom. That’s not only more than under Bush, up 28 cents. In the transition from Bush to Obama, inequality got worse, faster, than under the transition from Clinton to Bush. Obama accelerated the growth of inequality.Over at Breitbart, Ben Shapiro grasped this dynamic a few days ago:
In other words, the Obama “recovery” hasn’t leveled the playing field – it’s tilted it more. That makes sense, since most of Obama’s measures have been aimed not at providing jobs for working class people, but at subsidizing friends, allies, and union bosses. The rich continue to get richer – and much faster – under Obama, even as he claims the mantle of class warrior.
Republicans don't need to run from the inequality fight. Obama's big-government approach seems to have only exacerbated inequality, as a wealthy few have the ability and influence to manipulate government to benefit themselves. There's a reason why GE's corporate tax bill is smaller than the sales tax on a Big Mac in New York City.
Some on the left seem to be waking up to the fact that, for all his talking points, Obama's administration might not be the biggest friend of the little guy. The stagnation of the Obama economy has been felt the most by the working (or at least would-be working) and middle classes. Republicans can argue for both economic dynamism and egalitarianism.
Labels:
2012,
Barack Obama,
economy,
inequality,
Republicans
Wednesday, April 11, 2012
Setting Expectations
Zeke Miller at BuzzFeed posts a graphic showing that Romney has the lowest net favorability rating of any eventual nominee since 1996. However, I'm not sure that he is, as Miller's headline suggests, "historically weak."
After all, let's look at history and go all the way back to 1992 (a date that Miller does not include in his graphic). By June of 1992, Bill Clinton's approval rating could have been better, as S.E. Cupp reminds us:
And these early favorability numbers might not be the most persuasive. According to Miller's chart, the candidate with the highest net favorability in the March of an election year was Bob Dole. Another fact from history: there was no President Dole.
After all, let's look at history and go all the way back to 1992 (a date that Miller does not include in his graphic). By June of 1992, Bill Clinton's approval rating could have been better, as S.E. Cupp reminds us:
In June 1992, Clinton was third in the polls, behind President George Herbert Walker Bush and Ross Perot, and his favorability rating was an embarrassing 16%. Even forgetting that Perot split the conservative vote and probably cost Bush reelection, it’s hard to believe that Clinton went from such low favorability to the White House in such a short span of time.
Compared to Clinton's 16% favorability, Romney's 37% rating from late March seems positively golden. Gallup put Clinton's favorability rating at 34% in early April 1992, still below Romney's current rating. Moreover, Romney's favorability rating is climbing.
And these early favorability numbers might not be the most persuasive. According to Miller's chart, the candidate with the highest net favorability in the March of an election year was Bob Dole. Another fact from history: there was no President Dole.
Labels:
Bill Clinton,
Mitt Romney,
polling,
Zeke Miller
Pivot Pitfalls
Mickey Kaus, spurred on by other media speculation, wonders whether Mitt Romney will pivot on immigration now that the primary race seems to be drawing to a close. Kaus fears/anticipates that Romney will switch from his pro-enforcement position to some kind of support for mass legalization for illegal immigrants.
However, numerous political dangers could accompany a Romney immigration pivot. What heightens the danger of such a switch is that Romney has a limited number of pivots he can make. Because he needs to ward off the narrative that he is a "flip-flopper," Romney must ensure that his pivots are as few as possible and provide as much utility as possible. Switching on immigration enforcement might be an electoral waste of a pivot.
Romney's strong stance on immigration enforcement is one of his strongest ties to the conservative grassroots. His persistent defense of immigration enforcement helped him fend off both Rick Perry and Newt Gingrich. An openness to amnesty is one of the (many) third rails of grassroots conservative politics. Romney has challenged this slice of the electorate a lot already; he can't afford to pick needless fights with it. It would be infuriating to the grassroots to see Romney stay consistent on Romneycare while turning his back on immigration enforcement. Many (though not all) of the conservatives who promised during the primary to stay home if Romney were the nominee are likely to hold their noses and vote for him in November, but, if he pushes too many of them too far, he might lose more than a few disaffected conservatives.
Moreover, it just isn't clear that support for some kind of amnesty will rally "Hispanics" to a Republican candidate. Few Republicans fought as loudly and proudly for legalizations of all types as did John McCain throughout 2008. But, when election day came, he lost "Hispanics" by 36 points to Barack Obama (31-67). George HW Bush was the Vice-President of a man who pushed through an unambiguous amnesty for illegal immigrants (Ronald Reagan). Bush lost "Hispanics" by forty points in 1988 (30-70). Or consider the converse of this: the most pro-enforcement GOP candidate, Romney also convincingly won "Latinos" in both the Arizona and Florida primary races. His support for enforcement did not sink him.
The fact that support for legalizations might not be politically beneficial does not necessarily mean that it is bad policy, but the Romney camp should not be mistaken in thinking that pivoting to amnesty will be a successful pander to "Hispanic" voters. Poll after poll after poll shows that "Hispanics," like many other Americans, are interested in much more than just immigration issues: the economy, education, and other issues often rank higher for American "Hispanics." Furthermore, many "Hispanics" support immigration enforcement.
Instead of slicing and dicing America into ethnic groups with distinct panders, Romney should instead put forward a campaign theme that speaks to the needs of all Americans---"white," "black," and "Hispanic." Support for immigration enforcement seems a position that appeals to the middle. Contrary to Beltway spin, opposing a perpetual influx of exploited serfs is a centrist, popular position. As median wages continue to stagnate if not decline, Americans are anxious about threats to the middle class. Many Americans see illegal immigration as a wedge used by the wealthy against the middle and working classes, undercutting the wages of the native-born and legal immigrants. I've suggested before that Romney could use his support of immigration enforcement as part of a broader message for improving the prospects of the American middle class in the twenty-first century.
Gingrich and Santorum made inroads by charging that Romney represented elite monied interests, and Barack Obama seems likely to try to use class warfare and the politics of resentment as a smokescreen to cover up the economic disappointments of his administration. (Never mind that Obama's own term as president has seen economic inequality grow even more.) Supporting immigration enforcement could be one way of showing that Romney stands with the middle and could provide a contrast between the GOP challenger and the president.
Defending immigration enforcement need not be a demonization of the other. Romney could focus his criticisms on those businesses and individuals that knowingly hire illegal labor: focus, that is, on the jobs. Government benefits going to illegal immigrants could also be a fruitful topic.
Romney can put together a message that both supports the middle class and provides a vision for further economic growth; the decline of the middle class is one of the biggest problems if not the biggest problem the post-2000 economy faces. Immigration enforcement could play a role in this message of the middle. Romney might regret trading that electoral tool for a fruitless pander.
However, numerous political dangers could accompany a Romney immigration pivot. What heightens the danger of such a switch is that Romney has a limited number of pivots he can make. Because he needs to ward off the narrative that he is a "flip-flopper," Romney must ensure that his pivots are as few as possible and provide as much utility as possible. Switching on immigration enforcement might be an electoral waste of a pivot.
Romney's strong stance on immigration enforcement is one of his strongest ties to the conservative grassroots. His persistent defense of immigration enforcement helped him fend off both Rick Perry and Newt Gingrich. An openness to amnesty is one of the (many) third rails of grassroots conservative politics. Romney has challenged this slice of the electorate a lot already; he can't afford to pick needless fights with it. It would be infuriating to the grassroots to see Romney stay consistent on Romneycare while turning his back on immigration enforcement. Many (though not all) of the conservatives who promised during the primary to stay home if Romney were the nominee are likely to hold their noses and vote for him in November, but, if he pushes too many of them too far, he might lose more than a few disaffected conservatives.
Moreover, it just isn't clear that support for some kind of amnesty will rally "Hispanics" to a Republican candidate. Few Republicans fought as loudly and proudly for legalizations of all types as did John McCain throughout 2008. But, when election day came, he lost "Hispanics" by 36 points to Barack Obama (31-67). George HW Bush was the Vice-President of a man who pushed through an unambiguous amnesty for illegal immigrants (Ronald Reagan). Bush lost "Hispanics" by forty points in 1988 (30-70). Or consider the converse of this: the most pro-enforcement GOP candidate, Romney also convincingly won "Latinos" in both the Arizona and Florida primary races. His support for enforcement did not sink him.
The fact that support for legalizations might not be politically beneficial does not necessarily mean that it is bad policy, but the Romney camp should not be mistaken in thinking that pivoting to amnesty will be a successful pander to "Hispanic" voters. Poll after poll after poll shows that "Hispanics," like many other Americans, are interested in much more than just immigration issues: the economy, education, and other issues often rank higher for American "Hispanics." Furthermore, many "Hispanics" support immigration enforcement.
Instead of slicing and dicing America into ethnic groups with distinct panders, Romney should instead put forward a campaign theme that speaks to the needs of all Americans---"white," "black," and "Hispanic." Support for immigration enforcement seems a position that appeals to the middle. Contrary to Beltway spin, opposing a perpetual influx of exploited serfs is a centrist, popular position. As median wages continue to stagnate if not decline, Americans are anxious about threats to the middle class. Many Americans see illegal immigration as a wedge used by the wealthy against the middle and working classes, undercutting the wages of the native-born and legal immigrants. I've suggested before that Romney could use his support of immigration enforcement as part of a broader message for improving the prospects of the American middle class in the twenty-first century.
Gingrich and Santorum made inroads by charging that Romney represented elite monied interests, and Barack Obama seems likely to try to use class warfare and the politics of resentment as a smokescreen to cover up the economic disappointments of his administration. (Never mind that Obama's own term as president has seen economic inequality grow even more.) Supporting immigration enforcement could be one way of showing that Romney stands with the middle and could provide a contrast between the GOP challenger and the president.
Defending immigration enforcement need not be a demonization of the other. Romney could focus his criticisms on those businesses and individuals that knowingly hire illegal labor: focus, that is, on the jobs. Government benefits going to illegal immigrants could also be a fruitful topic.
Romney can put together a message that both supports the middle class and provides a vision for further economic growth; the decline of the middle class is one of the biggest problems if not the biggest problem the post-2000 economy faces. Immigration enforcement could play a role in this message of the middle. Romney might regret trading that electoral tool for a fruitless pander.
Labels:
economy,
immigration,
Mickey Kaus,
middle class,
Mitt Romney
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