Kos has The Full Monty.
This catches my eye:
It is true that we cannot depend on government alone to create jobs or long-term growth, but at this particular moment, only government can provide the short-term boost necessary to lift us from a recession this deep and severe.
I know Maddow was all excited about this; but, in another view, there is no short-term (and in yet another, it is a grave capitulation to the pandering of the no-new-taxes crowd, who are ruining the Republic).
What we might really need are a series of short-term moves that make the long-term prospects for the economy look ever rosier and stable.
An accelerating stimulus, one that spends more and more each quarter, would provide as powerful a backdrop as one can think of, off hand, to achieve that.
If someone (Larry Summers?) sells Obama on a "short-term" conception that is a "bridge" until the "real" stimulus kicks in, then it's hard to get really comfortable with that.
Wouldn't it be better to spend $300bn directly addressing the bad-debt hangover of the home-foreclosure crisis and the negative aspects of the 2005 bankruptcy bill, than in a broad-spray, across-the-board tax-cut that the markets may see as a bridge to nowhere, as finite? (Politically, there is always time for a tax-cut, right, so there is no obvious rush to fulfill an ill-advised promise, even had there been no downturn).
It's notable (to me) that Obama doesn't mention the stimulative effect of the GOP's unpaid for nation-building-exercises, that we still handle via "supplemental" appropriation .... (or should I say, "festooned", when the GOP did them?).
