Update: In fairness to Krugman (see below), he has also said things like this:

So what we got today was much better than some of the hints and trial balloons; it’s a plan that we could live with. But it’s a center-right plan already; if it’s the starting point for negotiations that move the solution toward lower taxes for the rich and even harsher cuts for the poor, just say no.

So he’s not an unreserved Yes. On the other hand, he hasn’t reversed the praise quoted in my main post. Looks like we’re all working overtime on this one.

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Just a short comment. I don’t want to parse Obama’s Grand Bargain speech; I just want to bottom-line my reaction to it.

It seems that many on the left were pleased. Here’s Krugman (my emphasis):

Substance: Much better than many of us feared. Hardly any Bowles-Simpson — yay! The actual plan relies on some discretionary spending cuts, this time including defense — good, although I think too much is being cut from domestic spending. It relies on letting the Bush tax cuts for the rich expire — finally! — plus unspecified reductions in tax expenditures.

Rachel Maddow also likes the plan, along with a great many other lefties. Her tag-line display for much of the program was the Obama quote, “It’s not going to happen as long as I’m President.” Woo-hoo, as she often ironically says.

Me, I’ll go back to my Grand Bargain drinking game. See the part in the Krugman quote about letting the Bush tax cuts expire? Never gonna happen. See those defense cuts? Never gonna happen, not in any non-cosmetic way. He’s had two years to do lots of stuff like that, and folded on all of it. Never gonna happen.

I think the target of this speech wasn’t the nation — but us, the rebellious left. I think the political geniuses in the White House finally got scared of losing the base. Finally. So they retired President Obama for one inning and brought out Candidate Obama to pinch hit. Candidate Obama can put one over the fence.

So my take-away is two-fold:

▪ We had an effect; I think we changed the speech. Don’t forget that. This is one thing we can learn from the Teabags. Finally, a small but noticeable liberal victory. It’s been like forever since one of those.

▪ This is just a speech — “Words, words, words” to quote the Bard. We’ve seen this act before. In fact, it’s been the great one-two punch of this administration; Candidate says this, President does that. So stay rebellious until you get what you want, until the action matches the promise. That’s the other thing we can learn from the Teabags.

My personal opinion, of course, and no one else’s.

GP