When it comes to the economy, the people running this Administration’s policies aren’t stupid. No, sir. They’re very smart. Too smart, in fact. That’s their problem — and the reason the Democrats took such a whacking in yesterday’s elections.
By virtue of their excessive intelligence, these policy setters have been fixated on “the economy” and not on the economic lives that most Americans (including the independents who abandoned the Dems in droves this election cycle) actually live. “The economy” these uber-smart policy setters have been focusing on is coming out of recession rapidly. “This economy” has been pulled back from the brink. Investor confidence, a critical element of “this economy,” is surging in the wake of a huge Wall Street run-up. The key indicators measuring “this economy” are all looking better. The expectations of analysts who track elements of “this economy” are being exceeded regularly.
The problem for Democrats is that most people don’t actually dwell in “this economy.” They live in the one where they work (or don’t), the houses in which they live (or no longer live), the credit cards they have to afford (or not afford) to pay some bills, and the local government services they are getting (or no longer getting). That economy stinks. For many people it’s still getting worse.
So here’s a tip for the folks setting economy policy in this country. Stop talking to each other. Instead, listen to what people who must function outside your tight, erudite, cosseted circle are saying. Try to understand how they really feel, what they really want, and who they think should really be rewarded. And then do things that really improve their economic lives rather than instructing them about their intellectually and academically improving macro-economic parameters.
Do that, and a lot more of you might remain in your own cozy places after the 2010 elections.