January 30, 2009
IGNORING LARRY SUMMERS’ ADVICE: “Summers was proposing bold action, but his concept came with safeguards: focus on the task at hand, prevent the usual Washington splurge and limit long-term fiscal damage. Now Barack Obama is president, and Summers has become a top economic adviser. Yet the stimulus approach that has emerged on Capitol Hill abandoned the Summers parameters.”
That’s because the “usual Washington splurge” is the whole point.
UPDATE: A cynical take: “What’s strange to me is the democrats can’t look 2 years ahead and see this pork bill not only bankrupted this country but did absolutely nothing to employ people. No one can possibly be that stupid. So I wonder if they are pigging out one last time before the whole shooting match goes down?”