Day: June 16, 2015

The centerpiece of Jeb Bush’s campaign is a promise to restore 4 percent growth. This goal has already been claimed by the guy Bush is trying to make people forget — his brother, Dubya, whose post-presidential center has also made “4% growth” its primary theme. Borrowing your theme from a failed ex-president brother you’re trying not to be associated with seems like a questionable strategy.

On Friday, House Democrats shocked almost everyone by rejecting key provisions needed to complete the Trans-Pacific Partnership, an agreement the White House wants but much of the party doesn’t. On Saturday Hillary Clinton formally began her campaign for president, and surprised most observers with an unapologetically liberal and populist speech. These are, of course, related events. The Democratic Party is becoming more assertive about its traditional values, a point driven home by Mrs. Clinton’s decision to speak on Roosevelt Island. [...] On one side, the success of Obamacare and related policies — millions covered for substantially less than expected, surprisingly effective cost control for Medicare — have helped to inoculate the party against blanket assertions that government programs never work. And on the other side, the Davos Democrats who used to be a powerful force arguing against progressive policies have lost much of their credibility. I’m referring to the kind of people — many, though not all, from Wall Street — who go to lots of international meetings where they assure each other that prosperity is all about competing in the global economy, and that this means supporting trade agreements and cutting social spending. Such people have influence in part because of their campaign contributions, but also because of the belief that they really know how the world works. As it turns out, however, they don’t.