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Biden failed at many things but he made a major break with Clintonite free trade and especially Obama's pint-sized stimulus policy and got basically no credit for it. Not Great for the prospects of future full employment

I think a lot of hard left accounts on here don’t fully realize the extent to which the center-left genuinely believes they made a good faith effort to reach out which was met with rejection, betrayal, and libel. You may not think it accurate or fair, but the belief is sincerely held.

"if you do full employment hard enough to compress wages a lot even big chunks of the left will complain about the resulting price increases for fast food, so keep the job market slack" is a frankly pretty plausible lesson to learn from ARP

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I also think that people are greatly overestimating how much the ARP was an intentional attempt to get full employment at the risk of inflation. We were still shut down in most places over covid. It was highly uncertain how much and how quickly the economy would recover.

The issue with the anti-free-trade stuff is that it was the result of the Fukuyama problem of people making trouble because they're bored. Voters like cheap stuff, they liked Carter->Obama policy making goods cheaper, and then you had Biden/Bernie/Trump all pushing against that and it turns out...

This is really stupid. Inflation under Biden wasn't driven by wage increases but by corps jacking up prices to increase profits. Leftists were 100% correct to excoriate Biden for defending capital during this time. Yes, wage inequality matters, but the capital-labour balance of power matters more.

yeah this is my real interpretation. never been more important to sell your agenda, doesn't matter what it is, nothing will get through if you don't have a propaganda arm and the president can barely talk bsky.app/profile/notd...

Ed@notdred.bsky.social

There’s an element of “got no credit” but also an element of “claimed no credit” tbh. You can’t simultaneously refuse to talk to the public and also complain that nobody’s recognizing your successes

Two issues. This is the big one, because if Biden was able to sell his agenda to normies better, it would've made the difference. But the issue is that so many "online leftists," including those with big platforms, don't care about actual policy and just define themselves as hating Democrats.

Trump's obviously illegal shit gets blocked by the courts, and right wingers blame the courts and threaten impeachment and worse. Biden's good shit gets blocked by the courts, and online lefties blame Biden and say this is why Dems suck and you shouldn't vote for them.

true, but a big wrinkle here though is that Dems also got *killed* in the 2010 midterms when unemployment was at its peak. if Trump touches off a recession or financial crisis I expect a similar backlash bsky.app/profile/mcir...

McIrwin@mcirwin47.bsky.social

I mean it’s a chicken or the egg situation between the media and the people writ large, but the media was laser focused on inflation while also not providing the full picture (supply shock, the benefits of higher wages, etc.) during during the Biden years while it kind of shrugged at unemployment

Dems (and myself) perhaps overlearned the lessons of the post-2008 lost decade, but it's still an important lesson imo. recessions are not popular, that's like the most robust finding in all of political science

I don't think most people know what a recession is, and things getting more expensive and there being increased disruption among service workers people depend on probably felt like one.

on that point: I definitely did not anticipate how unpopular an ultra-tight, inequality-reducing labor market would be. what people seem to want is 2019 when jobs are plentiful but wages and prices are still flat. I'd guess that taxing the rich wouldn't create such a backlash though

Feels like the pubic debates for the 2010 midterms were about undeserving people getting bailouts (which was absurd) and an incoherent debate about the ACA (also absurd, but in different ways)

A recession killing their run is dependent on it becoming the theme and being tied to them. I doubt the media has the will to do either of those things. Something else will be the problem of the day. Obstruction will be the cause, not the implemented policies.

Trump can barely talk. But Republicans have a robust media infrastructure that can turn imaginary trans teens in sports into a top issue and convince voters a good economy is a disaster. Dems urgently need to build one. Or lose elections after we've cleaned up R messes to boredom.

I think it’s definitely notable that AMLO/Morena in Mexico defied a lot of the global trends and AMLO’s big political innovation was…daily briefings directed at the public

Agreed, and also, standard New Keynesian macro isn’t a very sexy political story. It’s “vote for us, our technocrats with advanced degrees sure did technocracy better than ever, and the central bank has decided to beneficently allow you to work for now. You’re welcome America.”

Like I think a Job Guarantee would be good policy ofc for enshrining permanent full employment, but it’s also (if done well) much better politics bc it’s a BILL, something clearly produced by elected officials on your behalf, with a simple, big idea: everyone has a right to a job now, period.

The Biden administration absolutely sold their agenda, but it didn't matter when every journalist wanted to prove they didn't have a liberal bias by privileging Republican talking points and Biden's own party pushed the message that the economy was bad because polling said people thought it was bad.

this was another double edged sword of the Biden admin, where behind closed doors they were incredibly anti-immigrant, but they knew it was a message killer so they still got raked over the coals on immigration because Republicans are free to lie for some reason

Another element of it is it was political malpractice to let Trump put his name on the covid checks, and then the Dems doubled down on that failure with keeping Biden's name off the last check. For a lot of people the conclusion was simply "Trump sent me free money and I never got shit from Biden".

They were very bad at selling their accomplishments but also in the early stages of the reelection campaign when they were trying to run on "Bidenomics" people on the old site would say it was evil to try to claim the economy was good or that anyone anywhere had been helped at all.

Hoping you are just agreeing on the full employment and large stimulus parts. Preserving Trump's protectionist policies on trade did not help with employment, and just fueled inflation while making Kamala attacks on Trump's protectionism in the debate seem two faced. Certain tariffs on China may

I dunno, hard to get approval from a wing of the party that you’re routinely sidelining & minimizing even as they go to bat for you (e.g., AOC’s surrogacy for Biden vs. getting passed over by leadership) to say nothing of rhetorically beating like a mule for the sake of your centrist bonafides

And the party definitely did her wrong and people should be furious they put a 70-something year old with a cancer diagnosis in over a more junior rep with national profile and recognition because she’s further left than the donors like

A 70 year that was in remission. Not making a special exception for her is not doing her wrong, and it’s not because of the donors. I bet you don’t even know what the committee does, but that won’t stop you.

Sincerely, I’m not trying to dismiss the point you’re making—it’s valid and useful. But let’s not pretend the antipathy between centrist dems and leftist ones is one way and would be solved if leftists just came on side a little bit more. Regardless of how betrayed centrists feels

The left position was “genocide is bad, we should stop funding that” and the response was violent police suppression of protests, refusal to give ground at the convention, and wild accusations from party members at other party members. And they was mostly before the primary challenges

Kind of annoying how we finally got to try adequate fiscal policy based demand management right at the moment when we were having inflationary supply shocks for unrelated reasons

Folks with 3 jobs and an eviction notice sitting on their kitchen table were being told the economy was amazing. Biden got shit b/c while his folks were rejecting some completely bananas mergers & enforcing existing laws Dem Admins have ignored for decades the corporations were literally killing us.