The economic ignorance of the mainstream media and the GOP are simply breathtaking, particularly when in the same sentence they decry Obama's proposals as the biggest transformation since the New Deal, then say that it is wrong to pursue such proposals during a recession.
As Rachel Maddow said, "Huh?"
The New Deal was implemented three years into the Great Depression in response to the hardships created by the Great Depression!!! FDR and Congress did not adopt the New Deal because things were going great!!! Anyways, here is a sampling of the current incoherence that passes as news and commentary by politicians and pundits pushing an idea that you should only pursue New Deal type programs when the economy is doing great, not during a recession or depression:
http://hotlineoncall.nationaljournal.com/archives/2009/03/sunday_snapshot_74.php/snip
Rep. Paul Ryan (R-WI): "It's a breathtaking budget.
This is probably the biggest rewrite or transformation of our federal budget since the New Deal. And that's not necessarily surprising. I mean, the president said he was going to bring us sweeping change, transformation.
What surprises me most about this budget, though, is that they would bring this out in the middle of a recession. This budget takes the size of our government in this year to the largest level it has been since World War II. ... It doubles the debt in eight years. It never balances the budget. In fact, it proposes for the next 10 years that our deficits are the highest we've ever had on record."
/snip
http://ac360.blogs.cnn.com/2009/03/03/obama-a-course-correction-needed/#comment-605165/snip
Yet… yet… yet: It isn’t popular to say right now but there is growing reason to question whether this is the wisest course in terms of our most urgent and pressing challenge: a collapsing world economy. News on the economic front has to be sobering to even the most optimistic among us. Last Friday, we learned that the economy contracted in the 4th quarter by over 6 percent. Over the weekend, Warren Buffett warned that the economy would be in a “shambles” through 2009 and possibly beyond. On Monday, the government issued its fourth bailout for AIG, European ministers rejected a general bailout for Eastern Europe, and the Dow sank below 7,000 – down some 25% since its run-up in January. This Friday economists expect the latest U.S. unemployment numbers to be dismal. Already, the administration’s optimistic economic forecasts for next year look way too rosy.
/snip