From the perspective of much of the left, if something bad happens, it must be Bush's fault. The latest example of this can be found in the
leftwing blogosphere's latest attempt at dishonest spin to tie in a slumping economy to the Iraq War. I googled "Iraq Recession" and here are the top six results:
Open LeftFrom MoveOn.OrgMother JonesThe It List (basically a rehash of the above)Think ProgressMYDDMany of the above stories reference economic predictions from 2002 and 2003 saying the Iraq war will cause recession. A few of them stated that the slow down would happen pretty quickly.
From the Mother Jones website:
hink Progress reminds us that before the Iraq War, economists were
predicting that a prolonged occupation could lead to a recession here at home
and around the world. Witness:
"A war against Iraq could cost the United
States hundreds of billions of dollars, play havoc with an already depressed
domestic economy and tip the world into recession because of the adverse effect
on oil prices, inflation and interest rates, an academic study [by William
Nordhaus, Sterling professor of economics at Yale University] has warned."
[Independent, 11/16/02]
"If war with Iraq drags on longer than the few weeks
or months most are predicting, corporate revenues will be flat for the coming
year and will put the U.S. economy at risk of recession, according to a poll of
chief financial officers." [CBS MarketWatch, 3/20/03]
"If the conflict wears
on or, worse, spreads, the economic consequences become very serious. Late last
year, George Perry at the Brookings Institution ran some simulations and found
that after taking into account a reasonable use of oil reserves, a cut in world
oil production of just 6.5 percent a year would send the United States and the
world into recession." [Robert Shapiro, former undersecretary of commerce in the
Clinton administration, 10/2/02]
I must have slept through the Great Recession of 2004. It is now January 2008, and it is far from clear that we are even yet in a recession.
The web site Carp Diem has a chart showing Jan 08 unemployment claims and
constrasts them to prior recession starts. Jobless claims actually fell in January 08 compared to December 07. Of course, with all things economic, things can change quickly.
But even if the country falls in recession, the left wing has gotten their marching orders from
MoveOn to tie it to the Iraq War. From Open
Left's Matt
Stoller:
I wanted to test out the 'Iraq Recession' frame, which Moveon put out in an email a few
days ago when discussing the stimulus.
But what does an economist think? Not a right winger, not even a moderate or one that could be labelled as a
DLCer. Instead, I picked one just about universally praised by those on the left, Paul
Krugman.
On his blog:
An Iraq recession?
One thing I get asked fairly often is whether the
Iraq war is responsible for our economic difficulties. The answer (with slight
qualifications) is no.
So according to
Krugman, this whole Iraq Recession talking point is a fraud. Many of these blogs like to claim that they are the bearers of truth, for those who are smart and brave enough to hear it. But they spin the facts just like the same politicians they denounce.
Krugman even sets aside another constant falsehood of the left, that the high oil prices are the fault of the two oilmen in the White House.
There is one caveat: high oil prices are a drag on the economy, and the war
has some — but probably not too much — responsibility for pricey oil. Mainly
high-priced oil is the result of rising demand from China and other emerging
economies, colliding with sluggish supply as the world gradually runs out of the
stuff. But Iraq would be exporting more oil now if we hadn’t invaded — a million
barrels a day? — and that would have kept prices down somewhat.
While he does place some of the rise in oil on Iraq, he correctly points out the much larger causes. I read a few more of his blog entries and
came across another interesting one. He takes out another common bit of spin from many on the left, that bad things in the economy are Bush's fault:
But while I yield to nobody in my Bush-bashing, I can’t actually see the
channels through which Bush admin policy has caused all the the bad things going
on. So I’m looking a bit at other factors, outside the administration’s control,
that may have caused the economy to perform worse in the Naughties than it did
in the Nineties.
And one thing that immediately comes to mind is that the
international environment was a lot more favorable in the 90s.
Another left wing talking point (lie) destroyed by the
left's favorite economist.