An economic stimulus is all the rage in Washington these days. The president says he is seriously considering one and may reveal it in his State of the Union Address; congressional Democrats are talking about one of their own that could be announced before the SOTU occurs.
It's hard not to be impressed with a song, like "Rock and Roll is Here to Stay," which Danny and the Juniors made popular half a century ago, that is still being sung.
It's also hard not to be impressed by how popular earmarks are in the local area where the money will be spent and how angry voters in those areas are when the money they were hoping would be appropriated isn't provided.
Former U.S. Chamber of Commerce Chief Economist Richard Rahn has a "don't worry be happy" piece in today's Washington Times that, at least when it comes to the federal budget and U.S. fiscal policy, is one of the best examples of selective memory I've seen in a long time.
Rahn says that, because the budget deficit fell slightly from 2006 to 2007, the Bush tax cuts have been a huge success. Here's what he's conveniently not saying:
So what will Washington do between now and Election Day when it comes to the economy? If we’re talking about the White House and Congress, the answer is “not much.”