The House has passed the stimulus bill with not a single Republican vote.
Aren’t you glad that Obama watered it down and added ineffective tax cuts, so as to win bipartisan support?
And Krugman again on the Obama plan to set up a "bad bank," which will reward Wall Street's destructive behavior by overpaying them for toxic assets:
As the Obama administration apparently prepares to launch Hankie Pankie II — buying troubled assets from banks at prices higher than they will fetch on the open market — it occurred to me that an updated version of an old Communist-era joke may be appropriate: under Bush, financial policy consisted of Wall Street types cutting sweet deals, at taxpayer expense, for Wall Street types. Under Obama, it’s precisely the reverse.
Update: Maybe I was too cryptic. The original joke was, “Capitalism is the exploitation of man by man. Socialism is the reverse.”
My goodness, he is a breath of fresh air! Unfortunately though, he's on the outside looking in like the rest of us.
Mr. President, this is not change we can believe in.