Mad About Spending Cuts? Blame the Voters

More

The Washington Post's Greg Sargent has a theory that we're caught in a Beltway deficit feedback loop "in which the relentless bipartisan focus on that one topic to the exclusion of others is leading more and more people to tell pollsters they're worried about it." Here's how he defines the feedback loop:

When you have leading officials in both parties -- starting with all Republicans and a handful of moderate Dems -- acting as if reining in the deficit is so urgent that it requires more attention than creating jobs, people start to tell pollsters they agree. This helps create a climate in which Dems lose any incentive to make the case for more government spending to prime the recovery, which begins to vanish from the conversation.

Meanwhile, the other side continues to hammer away at reining in spending as the way to resuscitate the economy. Dems, anxious that Republicans will be seen as the only ones proposing solutions, nod in agreement and pick a fight over how much we should cut. The public hears an ever growing chorus of bipartisan agreement that the deficits and spending are our number one problem. The case that government can create jobs continues to fade. And so on...and so on...

I don't want to misrepresent Sargent, but it sounds like he blames Republicans for nudging -- duping, even -- people to care about the deficit. That is one way to tell the story, and it might be the right way, but it's not how I'd frame it.

In 2009, the economy was in the dumps, and Democrats borrowed a lot of money to fix it. The deficit went up but that didn't stop the job losses. This hurt the case for more spending. In 2010, Republicans ran on a promise to cut spending. They won a landslide. Washington heeded the public "mandate" by focusing on spending cuts. That's not a feedback loop between the politicians, the public and the media. It's just economic fundamentals driving elections, and elections driving policy.

Progressives tend to see deficit reduction and job creation as incompatible. But Americans don't. Instead, they see deficit reduction as the best way to grow the economy:

 November 2010: Which of These Do You Think Would Be the Best Approach for Congress and the President to Take in Dealing With the U.S. Economy -- Increasing Government Stimulus Spending, Cutting Taxes, Reducing the Federal Budget Deficit, or Increasing Taxes on the Wealthy?


The spending-cut frenzy is counterproductive. We need more targeted stimulus today, not brinkmanship over the debt ceiling. But that doesn't change the fact that Americans sent scores of Republicans to Washington because they wanted the GOP to cause a frenzy about spending cuts. The bad economy swamped the stimulus, the case for more spending lost the debate, and Democrats lost the election. Sometimes, democracy is a bummer.

Jump to comments

Derek Thompson is a senior editor at The Atlantic, where he oversees business coverage for TheAtlantic.com. More

Thompson has written for Slate, BusinessWeek, and the Daily Beast. He has also appeared as a guest on radio and television networks, including NPR, the BBC, CNBC, and MSNBC.

Get Today's Top Stories in Your Inbox (preview)

Video

More Video
Here's What Happens When You Light a Fire in Space


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Miami: The Next Big Start-Up City?

How the city became a center for innovation

Video

Video

A Brief History of Romantic Comedies

From The Atlantic's Chris Orr

Video

Life in 'the New Arctic'

A moving portrait of a fading landscape

Video

Video

The Rise of New York City

A fascinating look at Manhattan in the 1940s

Video

What Is Methane Hydrate?

"Flaming ice" is a vast natural energy source

Video

NASA's Time-Lapse of the Sun

Now with epic dubstep music

Video

Shaken Not Tuned: Cocktail Experiments

Can a tuning fork improve a cocktail?

Video

Video

Is He Cheating? A 1950s Guide

'That little blonde secretary from the office?’

Video

New Yorkers: Vintage Vacuum-Tube Amps

Risking electric shock to restore old amplifiers

Video

The DIY Piano-Bicycle

Everybody needs a hobby

Video

What Does It Take to Make Real Craft Gin?

Tour the Green Hat Gin distillery

Video

What Straights Can Learn From Same-Sex Couples

New insight from decades of research

Video

The End of the Mall Rat

A tribute to that pillar of teen culture

Video

The Wonderful World of Capitalism

An adorable 1950s cartoon

Video

New Yorkers: Miss New York USA

An unconventional beauty queen.

Writers

Up
Down

More in Business

In Focus

Early Monsoon Rains Flood Northern India