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Stimulus-Palooza: the First Wave Is Done
Borrow and spend. Repeat.
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President Bush signed the economic stimulus package this afternoon. Bipartisanship reigns. Whoopee. The White House transcript is here. Raise your hand if you’re not breaking out the champagne. The lard-up was not as bad as it could have been. But the fundamentals of stimulus-palooza were wrong at the start and wrong at the signing.

Borrow and spend may be good politics, but it is bad policy. Hillary wins. Fiscal responsibility loses. And you can be assured: The second tranche is coming.

Not to mention the $1.4 billion stimulus package for Mexico and Central America that’s in the pipeline.

God save us from bipartisanship.

(Republished from by permission of author or representative)
• Category: Ideology • Tags: Subprime crisis