Sunday, February 8, 2009

Stimulus: $1 billion per page- It (Still) Won't Work

From AmSpec:

Everybody's saying it now, but just in case someone missed it the first time around:
Announcing the compromise Friday evening, Sen. Arlen Specter of Pennsylvania said:

"I think no one could argue with the fact that the situation would be much worse without this bill."

Really, Senator? "No one could argue"? Many certainly will argue with you, especially with your apparent assumption that "this bill" is the only possible response to the current economic crisis, and that we must either pass "this bill" or suffer the catastrophe about which the president has so direly warned.

The real problem with the stimulus bill is not that it is too big (although it is too big) nor its various objectionable ingredients (although many are objectionable), but rather that it is based on a false economic theory." The American people...did not vote for the false theories of the past," Obama assured his listeners Thursday. Yet the "economic recovery plan" pushed by Pelosi and other Democrats is nothing but Keynesian theory in postmodern drag, elegantly costumed by the Orator-in-Chief with a lot of glittering generalities about "modernizing our health care system...21st century classrooms...and end[ing] the tyranny of oil in our time."This plan is not a Change We Can Believe In and, as I wrote two months ago, before Obama was inaugurated, it won't work.

Peter Schiff says the stimulus will make us "a nation of paupers": ...(more)

No comments: