McClatchy Washington Bureau | 02/12/2009 | Will the stimulus actually stimulate? Economists say no: "WASHINGTON — The compromise economic stimulus plan agreed to by negotiators from the House of Representatives and the Senate is short on incentives to get consumers spending again and long on social goals that won't stimulate economic activity, according to a range of respected economists."
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Not being an economist, I don't pretend to know whether the Obama/Pelosi/Reid stimulus bill will work or not. However, I am struck by the pretend certainty all three of them display. Clearly there is disagreement among economists, so how can these three be so sure they are doing the right thing? One possibility is they don't know if it will stimulate the economy, but they are dead certain it will shower money on their supporters, and that's the main goal. I heard one Democrat senator the other day saying they can always come back for more money later, if this bill doesn't do the trick. How can that be possible? I get the sense that we are in the hands of people who have no concept that this is not their money they are spending.
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