The following is a list of the issues between the two candidates which have grabbed my attention over the last months. It’s not exhaustive, and I won’t pretend it is, but I’m trying to assemble the core charges/challenges made against each and set out my my quick thoughts on each subject.
Kerry as a flip-flopper
Does Kerry flip-flop? Of course. So does Bush, and so did Lord Keynes, who famously had a sign in his office that said “When I’m wrong, I change my mind. What do you do?”
The nature of legislative maneuver requires that you occasionally “vote against the bill before you vote for it,” or vice versa. And nuance, in the sense of framing positions in ways that minimally alienate potential allies, or are maximally inclusive, is important.
Bush has flip-flopped as well; against DHS, and then for it. Against nation-building, and then for it.
That’s what politicians have to do.I am concerned – in light of the seriousness of the issues of the war – that his [Kerry’s] position on the war is so nuanced that it’s indistinguishable from no position at all. That’s the risk with carefully nuanced positions. In accommodating the largest group, you are trapped and unable to move.
I’m more concerned – in Kerry’s case – that I can’t make sense of his political evolution, and track it to his biography. I’ve blogged this before. This leaves me – and I think others – with a disquieting sense that he’s Chauncey Gardner.
Bush as stupid
No one who plays in the big leagues is incapable of hitting a curveball. No politician who has a state or national level presence is truly stupid, and it’s not only offensive to bandy that charge about but itself foolish, because it leads you to get sandbagged by your opponent.
In the specific case of Bush & Kerry, there is personal history – including the schools they went to – that suggests that Bush is at least as smart as Kerry. In fact there are some objecting military records that suggest that he’s smarter.
Kerry and the Swift Boat Vets
In my mind the Swift Boat charges break into four categories:
1. He boosted his own ratings through manipulating the system.
2. He did not act as bravely as he claimed
3. He abandoned his men by coming home early.
4. He acted immorally when he came home and was a part of VVAW.
I have a hard time not believing #1. The mere fact that he put in for Purple Hearts for injuries that were inconsequential suggests that he engaged in resume-puffery.
I don’t buy #2. I refuse to parse the courage of someone who was under fire and in command of other men in that circumstance. Was he Audie Murphy? No. Was he LBJ, who essentially stole a Silver Star in WW II? Not even close.
To me, #3 is the one that requires the greatest explanation. If he had served out his year, and either maintained his extraordinarily rapid record, or simply coasted through it competently, I would unqualifiedly admire him for what he did. But he chose to take a bureaucratic out, and that, to me was wrong.
It’s easy for me to criticize, you may say. I was never in the military and never had to face what he faced. But the draft was an issue for me in my first year of college, and had I been called – once my deferments were done – I had decided that I would either go and serve or go to jail. Kerry had those choices as well; he chose to serve – but only for a little while.
As to #4, I don’t think he acted immorally when he came home and participated in VVAW. I do think that he acted rashly, and hurtfully, and carelessly; and that a great man – which he is not – could have threaded that needle and done what Kerry did with honor. I do find it inexplicable that he wouldn’t have – at some point in his career – acknowledged the immaturity of what he did and said, and reached out to his fellow veterans, which would have added significantly to his stature (and elect ability).
And, to be honest, since one of the major jobs of the President is to be a communicator (yeah, I know, I know), that tone-deafness that kept him from making that speech is part of why I look at him and just can’t get confident that he’ll grow into the role of a leader.
And, in addition, someone qualified to run a high school ASB president’s campaign could have predicted the charges, and would have packaged a response and been ready for them. And again, that leads me to look at him and feel my confidence leak away.
Bush and the Lost Jobs
This is one of the most infuriating, bullshit-laden charges against Bush that I know of. How did you spend the 90’s? I spent the latter part consulting for a bunch of dot-coms, who were (not deliberately – usually) playing a giant Ponzi scheme with investor money. Five twenty-six year olds would get $15 million, rent 15,000 square feet of Class A space, hire 150 people at outrageous salaries, and it was never going to end. They bought cars, houses, Time-Warner, and we unsurprisingly had a boom. Add to that the financial engineering going on in Corporate America, and the stock market was headed for a 20,000 Dow, and we were all spending like rock stars.
But then the drugs wore off and we discovered that we had more of a bubble, actually. And I am just plain puzzled when smart economists like Brad Delong don’t acknowledge the powerful impact of the bubble, not only on the economy, but on fiscal policy – as the exploding economy grew, tax revenues grew, and the government was suddenly – with very little pain – solvent. Yes we had productivity growth, but as someone who sat in boardrooms while hiring and spending decisions were made during that era, I’ve got to say that my personal observation is that astronomical stock prices – created through ‘irrational exuberance’ and financial engineering – drove many if not most of these decisions.
And as a consequence all of us had jobs. Good-paying jobs, since the companies were making so much profit it didn’t hurt to dish some around to make sure the talent stuck around.
Then the bubble popped, and we were all subject to gravity once again.
We haven’t felt the last of the consequences, no matter how hard Mr. Greenspan tries by keeping real interest rates at zero or below.
So when someone blames Bush for the tepid rate of job creation since 1999, and does so in the framework of the phoney bubble that preceded him, I’ll take the charges more seriously.
Do I like Bush’s jobs policy? Well, first he has no explicit jobs policy. I do think that as my first glance is that many of his policies favor large over small businesses (tax policy, trade policy, agriculture policies), and I believe that small business are the likely engine for domestic job creation, that his jobs policies aren’t great.
Neither were Clinton’s, by that standard, and I have no reason to believe that Kerry’s would be better.
Kerry and the UN
Kerry keeps coming back to the UN as the tool that’s going to save us in Iraq and drive our foreign policy to a new, ‘city on the hill’ kind of a shining future.
I look at the UN and think of Rwanda, Srebinca and Darfur. I think of quiet deals in good restaurants in which the right to buy oil at below-market prices is offered to the powerful and the sons of the powerful.
And I scratch my head at Kerry’s claim, which might have made sense in the 1960’s, but makes none at all today.
Early results from the weekend’s general election showed that five years of UN rule had only deepened ethnic divisions as Kosovo’s voters signaled their despair with the Balkan province’s administrators.
Bush and the Lost Allies
Who, exactly are we talking about when we talk about the ‘lost allies’? In reality, we’re talking about three countries: France, Germany, and Russia.
The ability of each of them to add meaningfully to the troop levels is highly questionable (except for Russia, and as we’ve discussed, it’s questionable whether Russian troops in Iraq is a good idea.
What is being talked about is the ‘legitimacy’ in international diplomacy that would come from international consensus. As noted, that consensus can be very very expensive in terms of operating successfully. And, given the facts of Oil-for-Food and the interest of the EU and Russia in restraining the ‘hyperpower’ that is America, it’s not clear such a consensus could have been reached, regardless of the facts on the ground.
Bush and the Deficit
It’s clear that the war – which will certainly cost $200 – 300B before it’s over – blew a hole in the budget. And so did the drop in tax receipts post-bubble.
I’d like to believe that Bush is simply and consciously priming the demand pump, and will stand behind a podium and announce “We are all Keynsians now.”
But more likely, Bush is clearly following Reagan’s precept of approving all the spending it takes to make his corporate base happy, and enough spending on social programs to defer all-out war with the Congressional liberals.
This, in my mind is one of the worst things Bush has done. Like Reagan, he’ll leave office as a model to the conservative movement who will conveniently ignore this bit of history.
Kerry and Social Security
We have a pretty clear fiscal and demographic crisis coming along as our population ages, and so pension and health care costs go up, while the younger cohorts of workers are increasingly a) working outside the economy, and so not paying full taxes; and b) making lower salaries, and therefore paying less taxes.
Combine this with a stupidly low national savings rate, and things look interesting.
Bush has a proposal – one that I have some problems with because a) it’s a gift-wrapped present to Wall Street who will rake in fees and profits as a whole new block of resources steps in to buy securities; and b) it presents risks, and one has to wonder what will happen to the folks who make bad choices in their self-directed retirement accounts. Will we just let them starve?
Kerry’s position, as I see it, is well summarized in this column in Salon (it’s not worth sitting through the ad) by James K. Galbraith. Here are some of the salient points:
Social Security is not running out of money. Here are the facts.
1. Social Security is part of the government. It cannot run out of money unless the whole government also runs out of money. And the government of the United States cannot run out of money. That is not my opinion, it’s an economic fact.
2. Social Security is an entitlement. Not even Congress can easily interfere with its payments. Congress would have to vote to default on the bonds Social Security holds for benefits to fail over the next 40 years.
…
6. If the Trust Funds eventually have to be adjusted in order for full promised benefits to be paid, minor adjustments will suffice. And they will be good policy. When payrolls are relatively small, why not tap other revenues to pay pensions? The tax increases in any decade from the ’50s to the ’80s would have been adequate to plug the gap. Suppose, for example, that the estate tax were not repealed but instead credited to Social Security?
…
8. When NBC’s Andrea Mitchell accused John Kerry of pandering on Social Security after the debate, she reflected the mind-set of the coddled rich. Yes, it may be necessary someday to touch a little more of her income to cover all the bills. But frankly, Mrs. Greenspan, it’s worth it — both to protect America’s elderly and to watch you squirm.
9. After that lousy preface, Schieffer asked a good question. Privatization of Social Security would divert payroll tax revenues into private accounts. And that would blow a huge whole in the budget. Bush simply ignored this fact, as he always does. The fact is, Bush wants to gut Social Security. He made that clear Wednesday night.
Kerry’s answer on Social Security wasn’t pandering. He said that we can keep the system we have. He said we must not privatize it — “an invitation to disaster.” He said our priority should be to create jobs, the best way to pay for the system. And he said that we can well afford to wait until later to see if some minor changes would be wise. Kerry was right on all of these facts.
Sorry for the long clip, but I wanted to make two points.
The first is that in Social Security’s history, one clear theme has been part of our understanding; that it isn’t a transfer payment, but rather a self-funding retirement program.
Galbraith here just casually dismisses that with a handwave.
The second is that his assumption is that benefits always trump our ability to pay them. This is also something I’ve heard from Kerry before: “You spend what it takes.”
Clinton rejected that premise, and so managed to begin to craft a Third Way in domestic politics. Kerry would wind the clock back, to the formerly dominant branch of the Democratic Party – the branch of McGovern, Mondale, and Dukakis.
Are there any ‘killer’ issues here? Not to my view. Putting these in a basket and shaking them, you get Bush’s mediocre economic policies (which have the sole redeeming feature of being economy-priming) against Kerry’s unrealistic foreign policies.
We’ll skip the obvious social issues differences, and simply stipulate to them. yes, Bush is bad for gays, and probably for women. With due respect, both groups will survive, and in fact thrive as the underlying social changes that lead to greater acceptance will continue, regardless of who is in office and what specific policies they may promulgate.
I’m not sure whose polciies would be worse for the underclass, except that it’s likely that Kerry’s team would care about them. Sadly a lot of damage has been done by people who care.
In a pre-9/11 world, this balance would have certainly tipped me toward Kerry.
Sadly, I live in a post 9/11 world. I wish I didn’t, and that none of us did.