Uh Oh

8 Random Items for 1/7/2009 #3

We expect that it will be on the high end of our estimates but will not be as high as some economists have recommended because of the constraint and concerns we have about the existing deficit.

- President-Elect Obama on his stimulus spending plan.

I am starting to worry that Obama's belief in bringing all sides to the table is going to compromise his ability to do something about the financial crisis. Bipartisanship is for suckers and losers which is one reason Democrats seem to lose so often. Too many of us want the other side to like us. Spare me.

We cannot "tax cut" our way out of this crisis. We cannot "balance budget" our way out of the crisis. There is nothing about conservative ideology that can provide any help with ending the crisis. The only way out is massive federal spending. I'm talking World War II levels here. The extra benefit? Improved infrastructure, improved oversight, better education, a better environment and a return to American industrial glory. Jobs? Check. Growth? Check.

Yes, all waste should be eliminated. Yes, any government program that isn't working should be modified or canceled. Yes, you can't spend bad money and expect the situation to improve. However, the deficit, in a crisis, is irrelevant.