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Reich More Than Half Right

Robert Reich has a smart WSJ piece this morning saying that without job growth, Obama is toast in 2012.  His suggestion: an extended payroll tax holiday for the first $20,000 of income and Depression style job creation programs like the WPA and the CCC.

Coulda, woulda, shoulda.  Obama could have done that in 2009, and he should have.  The country was in shock from the financial crisis; Obama was hugely popular; the Democrats controlled both houses of Congress. A grand bargain based on job creation and tax relief short term, and entitlement reform long term to keep the debt at safe levels would have flown through Congress.

Now it’s too late.  The President bought into the Pelosi-Reid stimulus, and about all he can do now is hope for the change.

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