At the Washington Post’s liberal Wonkblog, Brad Plumer
evinces regret over some of the 2009 stimulus
measures:
The bleak news is that home and auto sales are still weak. New
home construction is still at
its lowest level since 1963. Sales of cars and light
trucks have ticked up somewhat over the past few years, but are
still solidly below pre-recession levels. The two big stimulus
policies that Congress experiment with for these sectors
- “cash
for clunkers” and the first-time
home buyer tax credit - mostly just seemed to shift the
timing of sales slightly rather than increase overall
levels.
It’s not quite right to suggest that Congress “experiment[ed]
with” these programs. More accurately, they were Democratic
programs that Republicans opposed because they predicted they would
fail. As liberals slowly come to grips with the stark reality that
these particular stimulus programs made things worse, they’re
ignoring why the mistake was made in the first place. The problem
wasn’t that a congressional “experiment” went wrong or that the
administration
failed to appreciate the severity of the recession. Instead, it
was that experts thought they had a government solution to a
problem when they simply didn’t. Still, nice to see this
honest acknowledgment from Plumer.
Bob K.| 11.7.11 @ 9:24PM
Was Herman Cain in a Clunker when he groped the latest Bimbo?
Bob Grant| 11.7.11 @ 10:06PM
Clunker? ....he hardly knew her!