New Deals and New Dealers

We did it. Our jangled nerves have been solaced by at least one glorious night of jubilation, of dancing in the streets like I haven't seen since we pulled out of Vietnam. (I don't follow sports teams, obviously, nor their fans' celebrations.)

One glorious night of jubilation, followed by a day or two of Election Night Stories. Where were you, how good did you feel, did you laugh or cry or hug total strangers; who do you know who was in Grant Park on a Tuesday night in Chicago?

But now we're done with all that. The pace of life is crazy. Election Day seems like it was weeks ago,not just days. Somehow the change of clocks and its built-in time warp contributes to this sense of unreality, as does the abrupt change from the summery temperatures of November's first week. Winter barged through the screen door without knocking this week, and four feet of snow fell in the nation's midsection, along with a few flakes here in Madison. I kind of think the Not-So-Great Plains deserved this dumping, for being the only noticeable chunk of the nation to find Sarah Palin a fit choice for Vice President.

Abruptly, we are back at the present moment, no longer with our eyes on the prize but our eyes on the mess in the locker room. The economy is no longer something we will meet on some ideal day with a new administration's perfect mix of intelligence and care and ingenuity but rather something that confronts us right now, a snarling ogre standing toe-to-toe with us, breathing hotly into our faces the stench of decomposition and disease. A battalion of somber faced economists stands in a protective shield behind Obama as he holds his first conference as President-Elect. This is where we are. These are the new soldiers.

At the time of this writing, Obama has not yet designated his pick for Secretary of the Treasury, although the pressure for him to do so quickly is so intense that I pause to periodically recheck news sources. Understandably, at a time when even the experts seem to be scratching their heads for economic cures or even palliatives, we are hoping for someone more capable than those working for the present administration, those who have so deeply failed us. For this reason, it is deeply, deeply disappointing to see Obama so seriously considering someone out of the incriminated past: Larry Summers.

Summers, as you may know, held this same Cabinet post under President Clinton. He was an Alan Greenspan crony, a Good Ole Boy, an anti-regulation free market globalist. He still is, by all we know. He is, in other words, one of those who allowed this crisis to brew, one of those who kept turning up the heat of the economic burner. He is not what we need now. We need a Real New Deal. We need real change, President-Elect Obama, now as much as we did a week ago. We don't want to go backward. It is time to move forward.

There comes a point when it is not worthwhile to patch old pants. There comes a point when an old tree must come down. There comes a time when enough is enough, and it is time to stop stuffing money into the pockets of bankers and financiers and automakers who never cared about us in the first place. They have not demonstrated that they have learned anything from this present crisis any more than Larry Summers has. Don't give money to Ford and GM; give it to the entrepreneur who needs it to start making little electric cars in a big way. Don't give power to Summers; think Joseph Stieglitz perhaps.

Change, Mr. O. We didn't stop needing it at the moment you won the election.