Stimulus and Response

Business Insider links to the upcoming Time magazine cover with an “unexpected” twinge of surprise:

Ladies and gentleman, your latest Time Magazine cover.

The full story is here, but we think you get the point from the cover.

That happened fast, didn’t it?

Not at all. On November 24 2008, almost two months before then-President-Elect Obama would take office, Time magazine declared him to be the second coming of FDR. When what Time magazine described as “The New, New Deal” turned out to have the identical effect as the Old Old New Deal, why on earth would they be surprised?

As Michael Walsh writes about the administration’s economic policies, “Heckuva job, guys.”

Oh and, speaking of Obama and past presidents, if it really is, as Charles Krauthammer declared this week, “Midnight in America,” perhaps it’s time for the president to check in with his predecessors for advice:

[vimeo]http://vimeo.com/24483891[/vimeo]