Only People With Secure Jobs Care About the Deficit

If not for the millions of lives at stake, I would say the Democratic Congress and the Obama administration deserve the political suicide they are committing by pursuing spending cuts over job creation.

Steve Benen explains:

For Democrats on the Hill, the fear is that, as the midterm elections draw closer, they'll be labeled "big spending liberals who increased the deficit" if they approve another jobs bill. It's better, these fearful Dems figure, to aim low, help less, and avoid more deficit spending.

As a matter of politics and policy, this is a drastic misjudgment with potentially awful consequences. Once attack ads are on the air, Dems will be labeled "big spending liberals who increased the deficit" whether they give the economy another boost or not. They might as well have something to show for their efforts -- in this case, an improved economy.

What will the pitch be in the fall if the economy stalls and Dems passed on a chance to give the recovery a boost? I can see the ads now: "Sure, unemployment is back at double digits and economic confidence is faltering -- but vote for us because, at the critical moment, we didn't marginally increase this year's deficit by a few percentage points."

This really shouldn't be complicated: invest in more job creation, help struggling states as they keep laying off workers, and make clear to voters that the economy is more important than the deficit. Do this immediately, without apology.

I realize Dems are overwhelmed by anxiety. They know a new jobs bill has merit, but they're scared of the attack ads. But if political concerns are paramount, it's hard to argue with a straightforward calculation: the incumbent party will be far better off with a stronger economy than a weaker one. It ain't rocket science.

Read the whole thing.