Background: Last February the AP reported that:

On a single day filled with staggering sums, the Obama administration, Federal Reserve and Senate attacked the deepening economic crisis Tuesday with actions that could throw as much as $3 trillion more in government and private funds into the fight against frozen credit markets and rising joblessness.

“It’s gone deep. It’s gotten worse,” President Barack Obama said of the recession at a campaign-style appearance in Fort Myers, Fla., where unemployment has reached double digits. “The situation we face could not be more serious.”

In response, I wrote the following:

Has it not occurred to anyone that they’re just digging us in deeper? With each new round of stimulus spending, they admit it’s gotten worse ? do they think that’s coincidental? The last time the Fed, the president, and Congress combined for such lunatic responses to a recession, the end result was a depression that might not ever have ended were it not for the outbreak of world war over a decade later.

Incidentally, that was back when all that money was going to save us from the horrific prospect of nine percent unemployment, capping it at eight percent ? i.e., it was before the subsequent double-digit unemployment that surprised everyone in the sycophantic press and no one with any economic sense.

So today, the AP is reporting:

New Obama plans: ‘spend our way out’ of downturn

WASHINGTON ? President Barack Obama outlined new multibillion-dollar stimulus and jobs proposals Tuesday, saying the nation must continue to “spend our way out of this recession” until more Americans are back at work.

Without giving a price tag, Obama proposed a package of new spending for highway, bridge and other infrastructure projects, deeper tax breaks for small businesses and tax incentives to encourage people to make their homes more energy efficient.

Of those “tax breaks” for small businesses, the AP makes sure you know the president isn’t talking about anything permanent or useful: rather, Obama “proposed a new tax cut for small businesses that hire in 2010 and an elimination for one year of the capital gains tax on profits from small-business investments.”

Given that the Keynesian nonsense (which, by the way, he demonstrably doesn’t believe in) is the same, my response is the same.

And I still think Obama must be reading the 1930s’ Idiot’s Guide for Driving the National Economy into a Tree.