which were adding up in the first 3 years as growth stagnated and revenues declined more than expected, went nuclear in the final year.
If anything, both the fiscal and monetary (lickspittle Fed) response to the pandemic overshot some of what was really needed, but there was an election to be bought.
As far as the knives out thing goes, it is RW urban legend that the "massive deficits" in the first couple of Obama years were because of crazy stimulus spending- they were much more from a sharp drop in revenues from a near depression. In hindsight it is quantitatively clear that not enough was spent to make up the output gap, and that continued through the remaining 6 years after he lost the House in 2010.
Obama made a huge mistake in prioritizing health care in those early years. He was wet behind the ears- but not near as clueless as GWB had been. But still, highly reliant on his advisors. I blame Rahm Emanuel, but ti doesn't matter- the buck stops at the top.
Healthcare was wildly out of control at that point but it could have waited. There were better things to spend the limited ammo on.
Although that was the point where angry white folks who don't know what the hell they're talking about but think you are supposed to care because they're white and angry took over.
Maybe nothing would have mattered a great deal.
