stimulus: a parable...

[hay rick]

In January, 2009, Barack Obama was handed the keys to the family sedan. It had four worn out and totally flat tires...

He consulted the most capable mechanics in the land. Their consensus was that he should buy four new tires. A few suggested that it would also be prudent to keep a fifth tire on hand as a spare, but the President rejected their counsel because he knew he would have a hard enough time drumming up bipartisan support for the four tire plan. Signalling his willingness to compromise, Obama suggested a "three or four tire" plan...

The Republicans howled at the mere thought of such extravagance. "Tax and spend, tax and spend, commie pinko plot," they chanted. They came back with a one tire plan, grimly reminding everyone that tires were not free and one tire was surely better than none. In the ensuing public debate, talking heads on CNN and MSNBC noted that the additional weight of tires might actually slow the car down. Commentators on CNBC and the Speed Network suggested that, perversely, a car with four good tires would lead to more driving around and increased dependence on imported oil. On another network, John McCain made the fair and balanced point that the Earth is flat but tires are round...

Storm clouds gathered on the horizon and the new administration's prospects were looking mighty bleak until three visionary Republicans broke ranks with their party and brokered a compromise: the two tire plan...

Postscript: fast forward to 2010. The family car is still going nowhere. The Republicans run on the "I told you so" platform and a disillusioned electorate votes the spendthrift Democratic bastards out of office. The two new tires, having been proved useless, are sold for scrap and the family sedan debate begins anew. Obama's advisers suggest a four cinder block plan...

[OHdem10]

1. Interesting analyis--I must admit I have had similar thoughts.

There are serious economists who believe it should have been bigger and
bolder.

For everyone's sake, I hope this helps some.

[hay rick]

3. It's a start.

I think a lot more will be needed and I wonder if it will be forthcoming. The pronouncements of the Republicans and what passes for debate on the issues in the media makes me worry. I view fixing the economy as a complex problem that will require a lot of trial and error and I'm not convinced we have the requisite number of adults involved in the process.

[zbdent]

2. Don't forget that the ReRushicans suggested paying for the tires which would be bought

by selling the doors, steering wheel, and engine ...

[hay rick]

4. The Republicans were awfully quiet

about debt when they inherited a budget in surplus and turned it around with huge tax cuts for the rich and a war of choice in Iraq. NOW they claim to be worried about the burden of the cost of debt on future generations. Nice that they rediscovered their family albums...

[Romulox]

5. Problem with the analogy: Where is it that we're going?

When the car had 4 good tires, it was being driven at top speed toward an area of massive inequality, widespread poverty, and declining standards of living.

[hay rick]

6. Don't make me write another parable.

So what we really need is a new car. Boy are we screwed.

You are accurately describing the economy of the last eight years (longer, actually). Unfortunately, a broken down version of the current economic order will lead to even more widespread poverty and a more rapid decline in living standards. The disappearance of profits and the collapse of real estate and equity prices may reduce income and wealth inequality- but that is little solace.

[gratuitous]

7. I like it

I also liken the Republican obstructionism to "Oh, we'll never leap the Grand Canyon in a single jump! Can't we try two or three shorter jumps?" And by tacit agreement, the talking chuckleheads pretend that there's someplace to land in the interim.

[hay rick]

8. talking chuckleheads?

I like it. Where's Evel Knievel when you need him?