The confidence fairy

Wonder why Obama isn’t talking about jobs? Because Tim Geithner has convinced him to do the exact thing that will make it worse: Cut spending.


Beltway translation: WTF?

But some administration allies fear the administration is doing more than keeping a low profile or biding its time — that it is actively reinforcing conservative dogma, at a moment when the jobs report may have created an opportunity to shift the economic debate away from budget imbalances and towards employment. “I understand the constraints of the moment,” says another senior Democrat, “but I’m not sure what’s gained by giving any oxygen to the incorrect idea that fiscal austerity right now would be expansionary.”

One thought on “The confidence fairy

  1. “Confidence” requires an object, something to have confidence IN. The confidence they are talking about it is the confidence, the well merited assurance that taxes will not be raised and the free access to low cost government money will not be reduced. Not “Confidence” as in “Hope that things will get better.”

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