Wednesday, December 03, 2008

Why Obama's Stimulus Blockbuster Could Flop

Hollywood has nothing on Washington when it comes to shamelessly recycling stories and plot devices. Remember that big-budget turkey of the fall, "The Amazing Trillion-Dollar Bailout"? It was the story of how Uncle Sam persuaded American taxpayers (or at least Congress) that if they didn't fork over nearly a trillion dollars to rescue Wall Street, the U.S. economy would tumble into a job-destroying, wealth-eviscerating free fall. (Director Hank Paulson has produced several sequels to that one already.)

But the inside-the-beltway crowd is already cooking up an obvious knockoff of that one. Coming soon in January 2009: "The Wondrous Trillion-Dollar Stimulus." It's the thrilling tale of how the new American president and Congress persuade American taxpayers that if Uncle Sam doesn't borrow hundreds of billions of dollars for a massive spending spree, the U.S. economy will tumble into a job-destroying, wealth-eviscerating free fall. (I can already imagine the teaser trailer. Deep-Voice Narrator Guy: "In a world gone mad, where banks are imploding and automakers disintegrating, only One Man and his Wondrous Stimulus Plan can save America ...")






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