December 29, 2008

JENNIFER RUBIN: How Do You Fight Obama’s New New Deal? “A trillion dollar stimulus is going to ‘create’ jobs, and the government will ‘bailout’ failing industries (with additional debt funded by the Chinese, so long as they have an appetite for quickly depreciating dollars). If you think this sounds half-baked and suffers from historical amnesia, you are right. Despite the obvious shortcomings with this approach (e.g., it’s never worked before), the Republican Party so far isn’t doing a very good job of coming up with alternatives. Plainly, they don’t like the mounds of debt. And they are skeptical of a gigantic public works projects. But what could be done instead? There are some viable ideas.”

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