Wow.....some deep prog state religion in this. Industrial policy will work this time because....equity? I am sure Heather was the captain of the good ship MMT, too.
Some many assertions to push back on....GDP suppressed by climate change? Europe's GDP stagnated in about 2010 while the US has gone up by 30%. The middle class is only shrinking because more people have become upper middle class in the last 20 years. How many billions of people pulled out of poverty globally since 2000, many to become consumers of US exports, due to globalized markets?
The cost-of-living sectors she cites (education, housing, health care and child care) are the markets least free of regulation (i.e., based on industrial policy), meanwhile market-driven sectors have reduced prices. Imagine what inflation would have looked like the last 2 years without globalization.
Yes, NEPA is a problem, but we are going to work around that by increasing equity through community groups chiming in on infrastructure projects?
Good news....Georgia just started a new nuclear power plant after battle people like Heather for a decade. Finally, clean energy is coming.
It starts off with a lie in the first paragraph: "It’s important to remember that when President Biden was inaugurated in January 2021, this was by many accounts the worst time in the pandemic."
No. The economy was bouncing back smartly from the bottom in a "V-Shaped" recovery. There was still a lot of PsyOp/InfoOp activity on the part of the State, but it was being overcome, gradually, with truth, even though it was being viciously repressed by the State and State-allied actors.
No, this is a tissue of lies. Any sensible person sees through it.
"Industrial Policy"?? When has that worked to any country's long term benefit? USSR, China, India, Germany, France, UK. The globe is littered with the waste of "industrial policy" foolhardiness.
It's sad to see how badly a smart person's words get warped by the vetting required of a government official. I'm sure Dr. Boushey didn't like it either. I understand the rationale but I wish there were a way to take the administrations talking points as given and read just the differential information coming from the individual.
Terrible. Needless interventions, ridiculous amounts of spending, the “recovery” from Covid is laughable - it was a bounce back not created by Biden, carbon capture is complete garbage and dangerous. Intervening in race and sexual relationships is disgusting over reach. How do we fire these people permanently and forever? Btw, the government creates fights between interest groups in order to accrue power. They are the primary race baiters. 2030 is an oligarchs playground, stealing private property. There are corporate private armies in the heartland right now intimidating ranchers and farmers.
Talk about a slow pitch softball interview! I wondered how Heather came to exist in such a fantasy world until I discovered she received her econ ed at The New School.
This did not read like an interview but a script for the Democratic presidential campaign. It was borderline disrespectful of the economic qualifications of the interviewer and it’s readership.
As an economist, I have a somewhat different perspective. Any time a state actor, as opposed to the free market, is making resource allocation choices, those choices are susceptible to political influence and likely to be economically sub-optimizing. The USSR is the answer to the question "where does this approach ultimately lead?"
Wow. I was going to leave a comment disagreeing with a couple of things Boushey said about childcare, but since everyone else has decided to trash the entire piece I guess that's not necessary.
Seriously, what is wrong with y'all?
Boushey works for the president, so of course her answers sound like talking points. It would have helped if Noah had been able to do more follow-up but as he explained, Boushey's schedule didn't allow for that. (Her "schedule" was probably an excuse for not wanting to take tough questions, but what else would you expect from a government official?) Even a big-time substacker is not going to turn down an interview with someone this highly placed in the administration, just because the interview format is more restrictive than it could have been.
Can people not take this for what it's worth and come up with some polite, well-reasoned criticisms of what she said?
Spoken by a true Biden believer. Low inflation? Really, much of the damage has already been done. Prices have increased substantially, sometimes double or triple what they were pre the Biden 5 $Trillion free money dump. Look at the bogus inflation index and compare it to the older and more reflective standards and you will see that real inflation is at least double what is being reported. High employment? Look at the level of participants, the real issue is the vast number of work age people who have left the workforce and are no longer counted. the number is about 60% of those capable who are actually in the work force. High growth? It is the result of $trillions of government (our tax payer) money that is fueling it, and that takes us back to inflation and employment. Look at what is happening in the real world - Yellow Freight. all the lay-offs across the tech industry where real private jobs are being cut, not added. The only Fox I watch is Guttfeld, you should try it for a little reality therapy . Or maybe try the WSJ.
Kind of wild that she talks about the importance of enabling chip manufacturing domestically while in the same breath promoting their policy that requires major semiconductor plants to have a plan for providing high quality childcare. That’s exactly the kind of thing that’s making it harder to get things built.
She also completely side stepped the question how to ensure cost overruns don’t swallow up spending and we don’t just pat ourselves on the back for spending a ton of money without actually constructing anything. Then she gave a non answer for the NEPA question and straight up ignored Noah’s question on immigration to talk about domestic workforce development (plus more childcare!)
Understand this is probably a throughly groomed response but some pretty deeply unsatisfying answers in here. Curious to see Noah’s thoughts on some of these answers.
a tangent: did anyone else raise an eyebrow at "when President Biden was inaugurated in January 2021, this was by many accounts the worst time in the pandemic."
Without a moment's hesitation, I would say April 2020. But is that only an NYC view of the world?
Thank you for sharing and illustrating a leader in the ruinous progressive economic policies of which we now suffer. Who but a radical liberal would promote this as positive?
Thank you Noah for exposing just how much trouble this country is in. It is easy to just roll your eyes at the malarkey coming from Biden and "transitory" Yellen and dismiss it as harmless rambling emanating from the senior center - on the contrary, this is dangerous.
Did I mistakenly subscribe to a DNC campaign web site?
Wow.....some deep prog state religion in this. Industrial policy will work this time because....equity? I am sure Heather was the captain of the good ship MMT, too.
Some many assertions to push back on....GDP suppressed by climate change? Europe's GDP stagnated in about 2010 while the US has gone up by 30%. The middle class is only shrinking because more people have become upper middle class in the last 20 years. How many billions of people pulled out of poverty globally since 2000, many to become consumers of US exports, due to globalized markets?
The cost-of-living sectors she cites (education, housing, health care and child care) are the markets least free of regulation (i.e., based on industrial policy), meanwhile market-driven sectors have reduced prices. Imagine what inflation would have looked like the last 2 years without globalization.
Yes, NEPA is a problem, but we are going to work around that by increasing equity through community groups chiming in on infrastructure projects?
Good news....Georgia just started a new nuclear power plant after battle people like Heather for a decade. Finally, clean energy is coming.
It starts off with a lie in the first paragraph: "It’s important to remember that when President Biden was inaugurated in January 2021, this was by many accounts the worst time in the pandemic."
No. The economy was bouncing back smartly from the bottom in a "V-Shaped" recovery. There was still a lot of PsyOp/InfoOp activity on the part of the State, but it was being overcome, gradually, with truth, even though it was being viciously repressed by the State and State-allied actors.
No, this is a tissue of lies. Any sensible person sees through it.
"Industrial Policy"?? When has that worked to any country's long term benefit? USSR, China, India, Germany, France, UK. The globe is littered with the waste of "industrial policy" foolhardiness.
It really gets me when she says the market can't deliver prosperity, when the reason is the market is hamstrung by government. ???
It's sad to see how badly a smart person's words get warped by the vetting required of a government official. I'm sure Dr. Boushey didn't like it either. I understand the rationale but I wish there were a way to take the administrations talking points as given and read just the differential information coming from the individual.
Terrible. Needless interventions, ridiculous amounts of spending, the “recovery” from Covid is laughable - it was a bounce back not created by Biden, carbon capture is complete garbage and dangerous. Intervening in race and sexual relationships is disgusting over reach. How do we fire these people permanently and forever? Btw, the government creates fights between interest groups in order to accrue power. They are the primary race baiters. 2030 is an oligarchs playground, stealing private property. There are corporate private armies in the heartland right now intimidating ranchers and farmers.
Talk about a slow pitch softball interview! I wondered how Heather came to exist in such a fantasy world until I discovered she received her econ ed at The New School.
This did not read like an interview but a script for the Democratic presidential campaign. It was borderline disrespectful of the economic qualifications of the interviewer and it’s readership.
As an economist, I have a somewhat different perspective. Any time a state actor, as opposed to the free market, is making resource allocation choices, those choices are susceptible to political influence and likely to be economically sub-optimizing. The USSR is the answer to the question "where does this approach ultimately lead?"
Wow. I was going to leave a comment disagreeing with a couple of things Boushey said about childcare, but since everyone else has decided to trash the entire piece I guess that's not necessary.
Seriously, what is wrong with y'all?
Boushey works for the president, so of course her answers sound like talking points. It would have helped if Noah had been able to do more follow-up but as he explained, Boushey's schedule didn't allow for that. (Her "schedule" was probably an excuse for not wanting to take tough questions, but what else would you expect from a government official?) Even a big-time substacker is not going to turn down an interview with someone this highly placed in the administration, just because the interview format is more restrictive than it could have been.
Can people not take this for what it's worth and come up with some polite, well-reasoned criticisms of what she said?
Spoken by a true Biden believer. Low inflation? Really, much of the damage has already been done. Prices have increased substantially, sometimes double or triple what they were pre the Biden 5 $Trillion free money dump. Look at the bogus inflation index and compare it to the older and more reflective standards and you will see that real inflation is at least double what is being reported. High employment? Look at the level of participants, the real issue is the vast number of work age people who have left the workforce and are no longer counted. the number is about 60% of those capable who are actually in the work force. High growth? It is the result of $trillions of government (our tax payer) money that is fueling it, and that takes us back to inflation and employment. Look at what is happening in the real world - Yellow Freight. all the lay-offs across the tech industry where real private jobs are being cut, not added. The only Fox I watch is Guttfeld, you should try it for a little reality therapy . Or maybe try the WSJ.
Wow, those were definitely...answers.
Kind of wild that she talks about the importance of enabling chip manufacturing domestically while in the same breath promoting their policy that requires major semiconductor plants to have a plan for providing high quality childcare. That’s exactly the kind of thing that’s making it harder to get things built.
She also completely side stepped the question how to ensure cost overruns don’t swallow up spending and we don’t just pat ourselves on the back for spending a ton of money without actually constructing anything. Then she gave a non answer for the NEPA question and straight up ignored Noah’s question on immigration to talk about domestic workforce development (plus more childcare!)
Understand this is probably a throughly groomed response but some pretty deeply unsatisfying answers in here. Curious to see Noah’s thoughts on some of these answers.
a tangent: did anyone else raise an eyebrow at "when President Biden was inaugurated in January 2021, this was by many accounts the worst time in the pandemic."
Without a moment's hesitation, I would say April 2020. But is that only an NYC view of the world?
Just curious.
Thank you for sharing and illustrating a leader in the ruinous progressive economic policies of which we now suffer. Who but a radical liberal would promote this as positive?
Thank you Noah for exposing just how much trouble this country is in. It is easy to just roll your eyes at the malarkey coming from Biden and "transitory" Yellen and dismiss it as harmless rambling emanating from the senior center - on the contrary, this is dangerous.
I can't take people with PhDs from the New School seriously, sorry