Me, I’m a skeptic; need to see this happen, need to see it sooner rather than later too late to do good.
Stan Collender offers the most cheerful assessment I’ve seen for a while — not about the economy, or about the disappointing stimulus plan, but about Obama’s prospects for getting more on a second round. Collender says that in the months ahead there will be several opportunities to introduce new spending in a way that isn’t subject to a filibuster.
I hope he’s right, and that Obama has not shot his bolt. Because what’s coming out of the current deliberations is really, really inadequate. I’ve gone through the CBO numbers a bit more carefully; they’re projecting a $2.9 trillion shortfall over the next three years. There’s just no way $780 billion, much of it used unproductively, will do the job.