Arianna Talks About The Debt Ceiling Agreement With Lawrence O'Donnell (VIDEO)
Thursday, August 4, 2011
Ditto for the head of his NationalEconomicCoun cil. Although appointing LarrySumme rs might have been a bit of a stretch, despite his yeoman work in destroying financial regulation —thus enriching his old boss RobertRubi n and helping cause the Crash of 2008—McCai n could easily have found a JackKemp-l ike Republican “supply-si der” who would have duplicated Summers’ signal achievemen t of expanding the deficit to the highest level since 1950 (though perhaps with a slightly higher percentage of tax cuts than the Obama stimulus). The economy would have continued to sputter along, with growth rates and joblessnes s levels little different from today’s, and possibly even worse.
But McCain’s election would have produced a major political difference: It would have increased Democratic clout in the House and Senate.
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