The Coming Conservative Backlash

For indispensable reporting on the coronavirus crisis and more, subscribe to Mother Jones' newsletters.


THE COMING CONSERVATIVE BACKLASH….In today’s column, David Brooks is already predicting a conservative backlash against upcoming liberal overreach. Sheesh. Can we please have our liberal overreach first? I’m looking forward to it.

Personally, though, I’m skeptical. I hope I’m just being my usual pessimistic self, but I’m skeptical anyway. Take this from Ezra Klein, for example, about the new Paulson bailout plan:

The liberals were right. Not the Democrats. The liberals. They were right that deregulation had gone too far….They were right that government intervention on a massive scale was needed to stabilize the capitalist system. They were so right, in fact, that Hank Paulson and George W. Bush couldn’t hold the line, and will now sign into law the most profoundly socialist measure this country has seen since the 1930s.

Maybe. And this is basically what prompts Brooks to predict a social democratic renaissance hellscape, which will eventually degenerate into….something….and then produce an inevitable backlash.

But, really, is this bailout the most profoundly socialist measure this country has seen since the 1930s? In a technical sense, maybe it is (though conservatives would probably argue the case for Medicare), but I have my doubts that it’s a harbinger of social revolution. The government isn’t nationalizing banks, after all. They’re taking what amounts to roughly 20% nonvoting stakes. And my guess is that in a couple of years, when the markets have settled down, they’ll sell those stakes off and everything will return to normal. Hopefully it will be a more tightly regulated normal, but it won’t necessarily have an enormous impact beyond the financial sector.

I hope I’m wrong about this. I’d like to see the social democratic renaissance that Brooks is so itchy about. But although I know that comparisons to Japan and Sweden aren’t really fair since both countries are already pretty socially democratic compared to ours, it’s still the case that massive bank failures in those countries in the early 90s didn’t fundamentally change their characters. I have my doubts that it will happen here, either, unless Barack Obama turns out to be a far more dynamic leader than I expect him to be. I sure hope he proves my skepticism wrong, and if he does I’m perfectly willing to accept the conservative backlash in 2024 that goes along with it. We could get a lot done in the meantime.

THE BIG PICTURE

You expect the big picture, and it's our job at Mother Jones to give it to you. And right now, so many of the troubles we face are the making not of a virus, but of the quest for profit, political or economic (and not just from the man in the White House who could have offered leadership and comfort but instead gave us bleach).

In "News Is Just Like Waste Management," we unpack what the coronavirus crisis has meant for journalism, including Mother Jones’, and how we can rise to the challenge. If you're able to, this is a critical moment to support our nonprofit journalism with a donation: We've scoured our budget and made the cuts we can without impairing our mission, and we hope to raise $400,000 from our community of online readers to help keep our big reporting projects going because this extraordinary pandemic-plus-election year is no time to pull back.

THE BIG PICTURE

You expect the big picture, and it's our job at Mother Jones to give it to you. And right now, so many of the troubles we face are the making not of a virus, but of the quest for profit, political or economic (and not just from the man in the White House who could have offered leadership and comfort but instead gave us bleach).

In "News Is Just Like Waste Management," we unpack what the coronavirus crisis has meant for journalism, including Mother Jones’, and how we can rise to the challenge. If you're able to, this is a critical moment to support our nonprofit journalism with a donation: We've scoured our budget and made the cuts we can without impairing our mission, and we hope to raise $400,000 from our community of online readers to help keep our big reporting projects going because this extraordinary pandemic-plus-election year is no time to pull back.

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate

We have a new comment system! We are now using Coral, from Vox Media, for comments on all new articles. We'd love your feedback.