Obama is Flirting With Disaster
Paul Krugman has it about right -- as does Martin Wolf of the Financial Times: The stimulus package as currently constituted doesn't cut it. Financially, it's far too focused on "pet Democratic programs," instead of providing the mighty jolt the economy needs. And politically, all the "goodies" attached by Democratic legislators are making the package easy political pickings by opponents.
More on this in this week's column -- posted later today.
By the way, Obama needs to temporarily nationalize some of these failing banks. Anything else doesn't do the job and wastes valuable time.
