President-elect Barack Obama's enormous stimulus package would be scary enough without learning the details. To inject the same staggering amount of government-created or borrowed money into the economy as has already been spent or set aside for the government bailout when there's no proof it will jump-start our economy and no thought given to how we're going to recoup this money is madness. But when you hear some of the uses he has for this money, it is way beyond madness.
Let's put aside for a moment our valid objections to the Keynesian idea that the government can create prosperity simply by printing and distributing money as if it were "Monopoly" money. If that were true, the only limit to our sustained prosperity would be the amounts of paper and ink we could produce.
Let's also put aside the enormity of the liberal hypocrisy of railing against deficit spending for the past eight years, as Obama stands blissfully poised to dwarf those records.
Instead, let's just examine Obama's inflexible commitment to two conflicting goals, as evidenced in his interview on "This Week" with George Stephanopoulos: 1) spending the "Monopoly" money in a way most likely to stimulate the economy (assuming here the validity of Keynesian theory) and 2) spending the money in a way most likely to satisfy liberal social planners.
Obama said: "Here are a few things we're going to do. We are going to double alternative energy production. We are going to weatherize 2 million homes. We are going to create a much more efficient energy system."
Can someone explain how these ideas, apart from constitutional objections, are going to do much more than lower utility bills for those the liberal planners decide are worthy and please the High Church of Al Gore? But stimulate the economy? Please.
But Obama was just getting warmed up. "I think," he said, "we can create a new green economy. And that's going to be one of the keys to the 21st century." Perhaps someone can provide Mr. Obama and his advisers with some history textbooks detailing the miserable failure of the Soviets' various five-year plans, assuming such texts haven't been burned.
Obama further promised to use some of the "Monopoly" money to invest in health care and education, as if throwing play money at these problem areas has worked or will work to improve their quality or reduce their costs -- much less stimulate the economy. But who can doubt that they will make leftist planners happy?
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