Michael Kinsley is no stranger to criticism in this forum, but his latest TIME column demonstrates that he understands one of the key problems with the current rash of bailouts and proposed stimulus plans:

The answer is yes, there is a downside. Even though amounts this large inevitably seem like toy money, it’s a real trillion dollars we are talking about spending. Even if we spend the money wisely (on bridges to somewhere), we or future generations will still have to pay it off, with interest. Or, more likely, we will inflate it away, along with the life savings of those who were foolish enough to save all their lives.

Don?t expect politicians to publicize this point. To quote a more consistently compelling columnist, ?Economists may say that there is no such thing as a free lunch, but politicians get elected by promising free lunches.?