Goolsbee’s white board explains the deal on taxes

Now do you get it?

Austan Goolsbee, head of the Council of Economic Advisers, makes a couple strong points at the end, adding up the half-dozen separate items on the Obama side of the compromise deal. These “Obama tax cuts,” he said, are more than twice the size of the Republican tax cuts on the very wealthy (income and estate tax rates), and together they add up to “serious money” that will help grow the economy.

Unless we screw it up, the idea is that before the 2012 election the economy will be chugging along at a more satisfactory pace and people will be employed in significantly larger numbers, so that source of voter dissatisfaction will have eased enough that we can think about four more years without a Republican in the White House.

Your blogger notes that the whining concern about the deficit is gone from both sides of the political world, in terms of this compromise package. Republicans and Democrats are talking about other stuff than the deficit. Maybe for a while here we can think about a real stimulus package, needed to rehab our infrastructure and provide a base for the clean environment and efficient energy that could result from intelligent application of capital.

Finally, let’s all read the Reid Report for Joy Reid’s terrific analysis of the politics of this moment. I am convinced that we are in truly historic times for this country, and we have been since 2000 and the screwy election that put George W. Bush in the White House. That election, and 2006, and 2008, and now 2010 have stirred our American pot violently. Especially here in Florida we have tremendous responsibility as a swing state to do the right thing for 2012. Joy Reid is helping to show the way. Thanks, Joy.


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