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Democratic Washington is consumed by the alleged need to pass a "stimulus bill" that would keep consumption strong in the short run.(The Week)(Brief article)

National Review

| February 09, 2009 | COPYRIGHT 2009 National Review, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Democratic Washington is consumed by the alleged need to pass a "stimulus bill" that would keep consumption strong in the short run. When the federal government has attempted such fine-tuning of the economy before, it has most often failed. Congress seems likely to throw money at infrastructure without much regard for bang-for-the-buck, since its object is simply to get money out the door (or, more crassly, to reward key Democratic constituencies). Even if you buy President Obama's numbers, the result would be $275,000 of federal spending for each job saved or created. Meanwhile Obama has given no indication that he will lift a finger to stop tax rates from bouncing up in 2011. We are stumbling toward a ...

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