09 November 2016

The other thing I've been thinking about today is the First Rule of Economics over at Charlie Pierce's blog on Esquire - "Fk The Deficit. People Got No Jobs. People Got No Money" - and the seeds of voter discontent.

Among the inevitable unpacking of results, I expect we'll find that one of the themes of why people voted Trump was economic uncertainty. The idea that even with improvements in employment and (although lagging) higher wages, there isn't a feeling of financial security, that people can't save for larger expenses and aren't confident that what work they do have is going to provide for their family (or even continue).

Which leads to this question - what if, rather than spending the bulk of his political capital and Democratic majorities in Congress getting the Affordable Care Act passed, President Obama focused on a comprehensive recovery and jobs bill? I know, there were a number of measures passed along these lines, but I can't help but think that the seeds yesterday's results were sown when the recovery seemed to benefit the financial sector (and largely passed on holding anyone accountable) at the expense of individual workers.

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