I'm sorry for the relative silence - I've been balancing a lot of work/life needs, and struggling with what to write... as well as when to write it.
Now that the stimulus bill is pretty much a done deal, I think it bears repeating: I think we got a bad bill. The question, which many people seem to be pursuing just now, of whether what we ultimately got was worse than what we started out with still seems to miss the point - what we started with was bad. Where we wound up... was pretty much in the same place.
That said, if you had to pick the perfectly wrong ways to "fix" the spending side of the stimulus, striking funding for school construction seems pretty much perfectly mistaken. It's one of the few genuinely stimulative measures, and the payoffs of better classrooms and newer schools would help drive improvements in educating students, something that's seen as a real way to grow our way past this crisis.
Still, the bill is bad because it so large, so messy, so kitchen sink. I still maintain that the blame for that rests with Nancy Pelosi and the House leadership, who seemed to have no ability to measure different proposals and their general stimulative value. Handing Republicans - and more to the point, movement conservatives - so many examples of bloated spending plans was, I think, just the organizing principle they needed in the aftermath of the election.
And the saddest thing is that a bill that is largely intact, and essentially what it set out to be - a combination of spending and tax cuts - is viewed as a failure for all concerned. Liberals are appalled at spending cuts to worthwhile projects (when really, the whole notion of the spending is enormous, even now), conservatives call the whole thing "porkulus," Democrats blame Obama for foolishly chasing "bipartisanship", while Republicans make hay claiming to be left out almost entirely. None of that is entirely true, and certainly not thw whole story... but they touch on truths, and as the storyline of this bill, they will stick.
The problem, ultimately, is we have no idea if any of this will work. Part of the hangover of regret, I think, is a buyer's remorse at falling for the idea that we had to race, with few questions and not enough dicsussion, to put massive spending and debatable tax cuts in place with few guarantees of success. It is very likely that job losses in private industry will swamp the mild gains from givernment projects. There's no real way to know that thsi spending can be accomplished ina short enough time frame. And we've layered on $1.4 trillion of new government debt, including the stimulus and TARP, with no real discussion of how we plan to pay for it.
Over the course of the long discussion that Red references in her post, I did come to realizing something in myself, a sense of acceptance that makes living with the result possible. I can't get angry and exercised like I did as a youth about all the injustice in the world, and about how disastrous this bill was, never mind the brken process that spawned it. We have made our choice, and we will have to live with the consequences. All we can do is try to figure out what now, and what not to do next time. The thing is, I'm not sure we even learned that, just yet.
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