I watched a lot of news on Friday, following votes and commentary on the “stimulus,” tweeting reactions Over the past couple of weeks the waves have been filled with statements against, with two primary arguments: too much spending and not enough jobs and tax cuts. And in the shakier regions: socialism and big government. But mood and reality are not congruent here, whatever the CEO of Caterpillar claims.
Today, the papers herald the passing, forgetting the last two weeks. We had dire predictions: such a bill will “nail” big government into place, forgetting the last year of billions flowing out, and will turn us all into socialists. How the idea of yesterday has changed. Not a “jobs bill.” Good grief.
Not much went about about the “context” of the bill and the situations of others in the world, such as the UK. Our situation is pretty dire. But the meaning context of government involvement in decisions is, today, beyond authoritarianism. As Krugman writes:
Why do we need international cooperation? Because we have a globalized financial system in which a crisis that began with a bubble in Florida condos and California McMansions has caused monetary catastrophe in Iceland. Weâ€™re all in this together, and need a shared solution.
“The honorable gentleman cannot guarantee that this bill will work,” claimed a detractor yesterday. Right.