Home > economics, political-economy, politics > Just when you think it might be safe to support Barack…

Just when you think it might be safe to support Barack…

Jared Bernstein opens his mouth again, and, new questions are raised.

In this episode, the intrepid defender of all things government come up with another reason to gang-rape your wallet and hand the proceeds over to questionable causes.

Says Jared:

… we have been over-consuming and under-investing. And here’s part of the solution: a major, smart, strategic program to revitalize the nation’s infrastructure.

Oh, do tell. Exactly how have we been over-consuming and under-investing, Jared?

… markets under-invest in public goods and for a very simple reason: private firms can’t claim enough of a return on such investments, so they fail to invest enough in them.

What does this mean, Jared? If, markets “invested” in public goods, it stands to reason the goods would not be public, right?

So, when, for instance, private companies like for-profit hospitals exist, we do not classify them as “public goods,” for the simple reason there is nothing public about them.

But, do for-profit hospitals under-invest?

Do for-profit educational institutions under-invest?

Do operators of for- profit roads – as exist in California – under-invest?

So, what is Jared talking about, when he states, “we have been over-consuming and under-investing?”

Who is we, Jared?

“We,” of course, is Washington.

Washington has been “over-consuming,” and “under-investing.”

Washington has been neglecting the the roads and bridges of this nation, as it has poured trillions into 24-7 global military operations, uninterrupted, since World War II.

Washington has also neglected communications, education, healthcare, water systems, energy conservation and climate management – about every major system required for an advanced economy to function efficiently.

But, we have the coolest gadgets ever fielded by an army in the history of warfare. Generals can sit in the Pentagon, and watch real-time as a small troop of Taliban fighters are taken out in the remote mountains of Pakistan.

We have smart missiles that can blast an Iraqi resistance fighter into paradise, while cattle graze peacefully nearby.

We got SHOCK, we got AWE, we got kids who graduate from high school and couldn’t make change if the register at McDonald’s didn’t provide a hint.


But, damn, we can kill some Taliban.

And, the only proposal the most progressive economists in the Democratic Party can come up with is some minor infrastructure repair to produce a little ECONOMIC pump-priming.

This is their hair-raising, wild-eyed, left-wing, radical response to the Republican agenda?

This, is what frightens conservative mouthpieces?

That the Democratic Party would continue to sail aircraft carriers around the Persian Gulf AND repair a bridge or two?

Is THIS the change we are supposed to believe in?

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