Stay the Stimulus Course
By Alan S. Blinder
WashPost
Tuesday, August 11, 2009
Apparently not bothered by facts, some congressional Republicans are already claiming that President Obama's $787 billion stimulus package has failed and are even advocating that some of the remaining scheduled steps in the legislation be canceled.
In medicine, that would be malpractice. In politics, it's demagoguery. In reality, we need to stay the course.
The course now includes "Cash for Clunkers," the recently renewed federal subsidy program that encourages people to scrap their old cars and buy new, more fuel-efficient vehicles -- an idea that I advocated more than a year ago. At first blush, "clunkers" seems to be the quintessentially successful stimulus program: fast-acting and apparently offering a huge bang for the buck. This sleek sports car of a policy seems to stand in stark contrast to the president's clunky stimulus package, which is sputtering along.
But that's not quite right.
(More here.)
WashPost
Tuesday, August 11, 2009
Apparently not bothered by facts, some congressional Republicans are already claiming that President Obama's $787 billion stimulus package has failed and are even advocating that some of the remaining scheduled steps in the legislation be canceled.
In medicine, that would be malpractice. In politics, it's demagoguery. In reality, we need to stay the course.
The course now includes "Cash for Clunkers," the recently renewed federal subsidy program that encourages people to scrap their old cars and buy new, more fuel-efficient vehicles -- an idea that I advocated more than a year ago. At first blush, "clunkers" seems to be the quintessentially successful stimulus program: fast-acting and apparently offering a huge bang for the buck. This sleek sports car of a policy seems to stand in stark contrast to the president's clunky stimulus package, which is sputtering along.
But that's not quite right.
(More here.)
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