Tuesday, January 6, 2009

Delaying the stimulus for political reasons

I couldn't disagree more with the conclusion of this article. Taking extra time for debate, consideration, hearings, etc. might win a few extra votes, but I think it can only make the measure less effective. There will be a few "polar bear exhibits" that might not pass the cost-benefit or critical infrastructure list. My guess is that taking more time will lead to more of these (not less) and an even bigger stimulus bill as the economy continues to get worse.

Nobody is going to remember "how" he passes a stimulus bill, they are going to remember if it works. This delay is going to make it far less effective. The conclusion from the article is below:

The legislation is going to pass. It's how it passes that will determine whether Obama increases or diminishes the political capital he needs for his next set of tasks, which include addressing the country's health care problems and rewiring the nation's energy policy.

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