Thomas Sowell thinks not and argues that Obama’s “stimulus” will just be a means of transferring money from taxpayers to reliable political allies. Read his column here.
There is good historical precedent for the kind of action Sowell is worried about. During the New Deal, FDR steered a lot of money to states and districts where it would do the most good — good for the Democratic Party. Burt Folsom’s new book New Deal or Raw Deal goes into great detail on that.
