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The Stimulus Trap
Made popular 1845 days ago in
As soon as the Obama administration-in-waiting announced its stimulus plan - this was before Inauguration Day - some of us worried that the plan would prove inadequate. And we also worried that it might be hard, as a political matter, to come back for another round.
Unfortunately, those worries have proved justified. The bad employment report for June made it clear that the stimulus was, indeed, too small. But it also damaged the credibility of the administration's economic stewardship. There's now a real risk that President Obama will find himself caught in a political-economic trap.
I'll talk about that trap, and how he can escape it, in a moment. First, however, let me step back and ask how concerned citizens should be reacting to the disappointing economic news. Should we be patient and give the Obama plan time to work? Should we call for bigger, bolder actions? Or should we declare the plan a failure and demand that the administration call the whole thing off?
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Why was the stimulus a failure?
Still needs time
The stimulus should have been distributed to tax payers
Should never have had one
This is not a scientific survey,
to learn more. Results may not total 100% due to rounding and voting descrepencies.
1845 days ago
You left off the real reason: the Democrats used the "stimulus" for pork projects and to reward ACORN. It had nothing to do with getting things going again.
1844 days ago
C'mon Paul ever since you had this luncheon at the White House your column is getting worse. Truly not worthy. I suggest you check in some medical facility to find out what they put in that water. I use to like to read your column for you insightful opinion of decent. Now you're cheering the same policy you were against. I'm for Obama but not for the secrecy and fiscal policy.
1843 days ago
We don't have time....
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