Tuesday, October 14, 2008

David Brooks predicts the Obama agenda

And it ain't pretty. What's more, it's utterly plausible. Basically Brooks sees five huge revenue drains under Obama: bailouts, more stimulus packages, Keynesian infrastructure and "green jobs" spending, "tax cuts" that mostly consist of tax credits rather than reductions in tax rates and increased government expenditures on health care.

He concludes:
What we’re going to see, in short, is the Gingrich revolution in reverse and on steroids. There will be a big increase in spending and deficits. In normal times, moderates could have restrained the zeal on the left. In an economic crisis, not a chance. The over-reach is coming. The backlash is next.
This doesn't strike me as far-fetched -- either the Gingrich revolution on steroids or the backlash. Indeed, let us recall Bill Clinton's first two years in office. He raised taxes, pressed for gays in the military, advocated nationalized health care and signed an assault weapons ban. The result was the 1994 elections that saw Republicans pick up an astounding 54 seats in the House alone. And what Obama looks set to do is going to make Clinton's agenda seem like small potatoes.

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