19 June 2009

Why Obama’s big economic gamble is failing

Apparently he's a politician, not an economist.
"...current Obama budget chief Peter Orszag — concluded that an Obama-like economic stimulus package would be "totally impractical" because it would take so long to implement. (True enough, only seven percent of the American Recovery and Reinvestment Act has been doled out so far.)"
It was impractical for actually helping the economy, but it's a cornucopia for consolidating power and rewarding loyal constituents. 

No comments: