‘NO STUPID HOOVERISM AROUND HERE’…. If you have a few minutes this morning, I’d encourage folks to check out the discussion on MSNBC last night between Rachel Maddow and Jared Bernstein, chief economist and economic policy adviser to Vice President Biden. The topic was supposed to be the latest targeted proposals to help the middle class, but in light of the news about the proposed “spending freeze,” the two shifted gears and had a spirited discussion.
I know some of you can’t watch video clips from your work computers, and I’m looking for a transcript that I can link to, but in the meantime, the discussion was extremely informative. Rachel didn’t hold back, explaining that it seems “completely insane” to have a spending freeze “in the middle of a recession.”
Bernstein, one of the leading progressives in the White House economic team, explained that the “freeze” wouldn’t take effect until 2011, wouldn’t undermine recovery efforts, bears no resemblance to the Republican freeze proposals, and would allow some programs to receive more money, not less.
Borrowing a phrase Rachel had used earlier in the program, Bernstein assured viewers, “There`s going to be no stupid Hooverism around here.”