Benjamin Studebaker

Yet Another Attempt to Make the World a Better Place by Writing Things

Tag: Barack Obama

May 15, 2023

Biden Edges Toward Repeating Obama’s Worst Mistake

President Biden is negotiating with congressional Republicans to raise the debt ceiling, and there are reports that progress is being made on a deal that involves “cutting spending.” There has been talk that Biden might try to avoid a deal by minting the coin or invoking the 14th amendment. But Biden has always emphasized that he values consensus and compromise. The conservative Supreme Court might not go along with an attempt to use the 14th amendment, and shoving the coin down his opponents’ throats has never really been Biden’s style. It all reminds me of the debate from a decade ago. This blog was young back then, and I wrote a lot about Obama’s negotiations. Let’s revisit that period, shall we?

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September 25, 2020

The Fear Surrounding the Death of Ruth Bader Ginsburg is Unhealthy

Over the past week, there has been a very strong emotional reaction to the death of Ruth Bader Ginsburg. I am not talking about the grief–it is perfectly normal for Ginsburg’s many admirers to grieve her loss. But it has gone beyond grief. There is a climate of intense fear surrounding Ginsburg’s death. Over the past few months, the Democrats have tried to make the 2020 election feel existential. They want us to feel that we have to vote for Biden, because otherwise democracy itself will be destroyed. This has led to a lot of exaggeration. I have been reluctant to write on it, because the reactions people are having are so extreme. But contrary to the increasingly hysterical narrative, there is little reason to think that Ginsburg’s death will have massive political consequences. Here’s why.

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May 16, 2020

Why Federal Stimulus is Always Too Small

We never seem to learn anything. The global economic crisis of 2008 should have taught us a lot about how governments cope with major economic shocks, but the level of analysis in 2020 has been abysmal. The Great Recession reduced US economic output by 4.2% and destroyed 8.7 million jobs. To counteract the loses, the federal government injected stimulus, first through the Bush administration’s Troubled Asset Relief Program (TARP), and then through the Obama administration’s American Recovery and Reinvestment Act. Combined, these two programs provided about $1.2 trillion. That’s about $285 billion per percentage of point of GDP. It wasn’t enough. The economy recovered very slowly, too slowly for the Obama administration to maintain public support. The Democrats lost the House decisively in 2010. Obama tried to get an additional $447 billion in 2011, but the Republicans had no interest in it. Instead, they pushed for deficit reduction. Obama tried to play nice with them, signing the Budget Control Act in August and making one last push for more stimulus in the Fall. They took his cookies. The second stimulus never happened. As the years went by, rural America continued to lose jobs, and grew more and more resentful, setting the stage for Donald Trump in 2016.

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April 7, 2020

What I Think in 2020

Now that the Bernie Sanders movement is comprehensively failing, it is time for those of us who supported it to take a step back and reflect. We can only learn from defeat if we are willing to be honest with ourselves and recognise it as such. This post is more autobiographical than most of what I run here. The aim is to do some hard introspection about how I came to support the Sanders movement and where its downfall leaves me, politically.

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January 19, 2020

Remember When Obama and Biden Tried to Cut Social Security by $230 Billion?

Videos have emerged in which Joe Biden speaks in favor of entitlement reform. Biden disputes the claims:

The thing is, Joe Biden and Barack Obama did try to cut Social Security. It’s one of the forgotten pieces of Obama’s legacy. It was called the ‘Grand Bargain’. Let me tell you the story.

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