‘Blame Bush’ will not win Obama re-election
While the President’s apologists know that blaming George W. Bush for everything that’s gone wrong during the Obama regime is a risky (read poor) strategy, they have little else—really, nothing else—to draw on.
As proof, I submit the Daily Beast article (via Newsweak, emphasis added to the title) Paul Begala: Middle Class in Free Fall From the Bush Depression.
A recent report from the Federal Reserve documents the collapse of the middle class. Between 2007 and 2010 median wealth dropped a staggering 40 percent. As ever, the rich did fine, actually seeing their wealth increase as everyone else’s disappeared. That’s because those on top have less of their wealth tied up in real estate and more in investments like stocks and bonds, which have done better in the Bush Depression than home prices.
Begala whiffs on the real lesson, that government-driven market interference (like taking action to inflate real estate bubbles) have hurt the middle class. But he’s not done.
But we didn’t get into our current mess because we had too many teachers, cops, and firefighters. We got into it because we cut taxes, mostly for the rich, waged two wars on the national credit card, and deregulated Wall Street. We will never cure the debt if we don’t address its true causes.
Begala only half-whiffs on this lesson, that we got into our meta-mess because government (at all levels) spends too much.
But regarding tax cuts, liberal “wisdom” again strikes out. After all, whose money is it anyway? Instead, perhaps people should be able to make more of their own spending and saving decisions and government, given its record of non-performance with regard to creating value, should make fewer. Calling government spending “investment” or decreasing the rate of increase of government spending yet calling it “austerity” are both self-evidently absurd.
Will Democrat strategists draw on the President’s record? No, that’s political suicide.
Will Democrat strategists attempt to demonize Mitt Romney and blame Obama’s failures on others? Absolutely. Desperate acts for desperate men.