… when even stimulus supporters trash it.
Robert Samuelson won’t win any friends among Locker Room regulars for writing that he supports “a huge stimulus,” but his analysis should help build the case against the stimulus package as stimulus package.
No one knows the economic effects of all this; estimates vary. But
Obama’s political strategy stunts the impact from what it might have
been. Postponed spending weakens the economic benefit. By using the
stimulus for unrelated political and policy goals, Obama mandates
delays. Obama brags that there are no “earmarks” in the package. This
is technically true if an “earmark” is considered a project
specifically designated for a politician’s home district. But hundreds
of billions are “earmarked” for identifiable constituencies. There’s
another downside: “temporary” spending increases for specific programs,
as opposed to block grants, will be harder to undo, worsening the
long-term budget outlook.
