Morning in America, Part 2

Let our journalists help you make sense of the noise: Subscribe to the Mother Jones Daily newsletter and get a recap of news that matters.


Jon Chait points out that Bill Kristol has progressed from predicting Republican victory in 2012 to simply assuming that Obama is toast:

In 2013, we’ll need action on the order of 1933 or 1981. Hoover, Carter, and Obama will go down in the history books as failed one-term presidents. Will Obama’s Republican successor be remembered as acting on the scale of FDR and Reagan?

Actually, that’s the least of Kristol’s piece. You really should read the whole thing: it’s a masterpiece of purple prose and florid historic hyperbole. On the other hand, there’s a nontrivial chance that Kristol is right about this. Here’s my nightmare scenario:

  1. Republicans run the country for eight years and produce a historic financial collapse that, per Rogoff and Reinhart, will take four or five years to fix even if we attack it vigorously.
  2. Obama is elected president in 2008.
  3. Republicans do everything in their power to prevent any kind of vigorous action,1 thus ensuring that recovery takes more like five or six years.
  4. Because of this, the economy sucks in 2012 and a Republican candidate wins.
  5. Right on schedule, the economy starts to recover around 2014 or so. By 2015 it’s morning in America!

This is, sadly, not too far-fetched. And if it happens, Republicans will indeed get the credit. After all, Ronald Reagan widely gets the credit for the original morning in America, even though our recovery in 1983 was due much less to lower taxes than it was to falling oil prices, conventional Keynesian stimulus, and Paul Volcker’s decision to ease up on the high interest rates that kicked off the 1981 recession in the first place.

But that’s too complicated. In popular myth, (1) Reagan is elected, (2) he lowers taxes, and (3) the economy recovers. What more do you need to know?

1Yes, yes, Obama and his economic team should have done more too. But keep your eyes on the prize, people. Obama’s timidity is but a single gnat compared to the locust swarm of Republican obstructionism over the past three years.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

Headshot of Editor in Chief of Mother Jones, Clara Jeffery

It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

payment methods

We Recommend

Latest