Follow this link to the blog posting Giving Up on Policymakers by Mark Thoma, an economist in Eugene, Oregon (Awr’-i-gun, not Or-a-gone’).

He starts off by saying:

I’ve been pushing hard for more help for labor markets for quite awhile — at times I’ve thought it was a bit repetitive, but necessary — but it’s probably time for me to give up and accept that we are going to have a slower recovery than we could have had with more aggressive fiscal policy. Unless there is a dramatic reversal of recent indications that we are at the beginning of a recovery, Congress is not going to provide anything more than token help from here forward.

He has a very good analysis of why fiscal stimulus is needed, in general.  However disappointed he may be, he has to recognize political reality.  The uproar from the economically uneducated would be deafening if the President and Democrats in Congress tried for another large stimulus.

The economically uneducated (which appears to be a huge segment of our society) thinks that cutting taxes and the deficit is a better solution.  Just staving off this ruinous idea is an accomplishment of the President in and of itself.

In a democracy, politicians can’t just institute any old policy they want, and expect to stay in power for long.  If what they want to do is right, then they must first educate the electorate.  Such education does not last long, so it must be continuously reinforced.  This is what President Obama is doing for Health Care Reform.

It would sure be helpful if the President wasn’t the only one trying to educate the electorate.

Mark Thoma tries to do his part with his blog.  I try to do the same with mine.

I also try to recognize who is on the same side as I am.  I believe more in praising them for what they have accomplished rather than constantly carping about what they have not accomplished.

On the pronunciation of Oregon, try this audio ->

This audio comes from reference.com.