Wonkblog: Wonkbook: Democrats take a sharp left on the economy

Senior House Democrats Nancy Pelosi (Calif.), Steny Hoyer (Md.) and Chris Van Hollen (Md.) discuss the budget at a news conference on Dec. 5, 2013. (AP/J. Scott Applewhite)

Are the states still "the laboratories of democracy," as Louis D. Brandeis said? Aaron Chatterji, a White House economist during President Obama's first term,is worried about the nation'sR&D department:

From Obamacare to the Common Core to the president's new proposal to reduce the cost ofcommunity college, many of the ideas inthe current national public policy debate originated in the states, as it did in Brandeis's day. The difference is that now, many of those ideasare meetingfierce opposition. Read the rest of Chatterji's piece here.

What's in Wonkbook:1) Democrats' economic agenda2) Opinions, including Blow on Tamir Rice3)WhyKeystone XLstill matters, and more

Number of the day: 1.7 percent.That's the increase in hourly wages for the average American workerlast year -- which is almost nothing, butis still better than inflation, thanks to falling oil prices.Matt O'Brien in The Washington Post.

1. Topstory: Democratslay out economic agenda

Theproposal from senior lawmakers isn't likely to go anywhere for now, but it establishes Democrats' position for the upcoming campaign. "The centerpiece of the proposal, set to be unveiled Monday by Rep. Chris Van Hollen (D-Md.), is a 'paycheck bonus credit' that would shave $2,000 a year off the tax bills of couples earning less than $200,000. Other provisions would nearly triple the tax credit for child care and reward people who save at least $500 a year. The windfall about $1.2 trillion over a decade would come directly from the pockets of Wall Street 'high rollers' through a new fee on financial transactions, and from the top 1 percent of earners, who would lose billions of dollars in lucrative tax breaks." Lori Montgomery and Paul Kane in The Washington Post.

Meanwhile, the Wall Street money has dried up for the Democratic Party. "Of course, the flight of financial sector money is not the sole reason for the increasingly populist arguments from Democratic politicians. But it has helped the debate to move, ever so slightly, away from Wall Street support. In the last two elections, according to data from the Center for Responsive Politics, Democratic Party committees and candidates saw their share of contributions from finance, insurance and real estate donors shrink to the lowest percentages since at least 1990." Paul Blumenthal in The Huffington Post.

Republicans are looking for a populist message, too. "'You talk to any pollster, on the Democratic side or the Republican side, they're in complete agreement on the idea that there has to be an economic populist message,' said Matthew Dowd, a top strategist for former president George W. Bush's 2000 and 2004 campaigns. 'Then it comes down to "Are there credible solutions and is there a credible candidate?" ' "Philip Rucker and Dan Balz in The Washington Post.

VINIK: With the improving economy, Democrats confront a political conundrum. "How do they take credit for the economys successes while empathizing with working class voters who havent seen those successes? One possibility is to have different party leaders express different sentiments." The New Republic.

Go here to read the rest:
Wonkblog: Wonkbook: Democrats take a sharp left on the economy

Related Posts

Comments are closed.