Monday, August 20, 2018

The superstitious George Packer of The New Yorker imagines that the 2009 stimulus which PASSED failed because Republicans put a hex on it

Proving that it isn't just George Will who suffers from the disease. As Paul Krugman pointed out at the time, the stimulus simply wasn't big enough.

It never is.

Here is Packer:

In February, 2009, with the economy losing seven hundred thousand jobs a month, Congress passed a stimulus bill—a nearly trillion-dollar package of tax cuts, aid to states, and infrastructure spending, considered essential by economists of every persuasion—with the support of just three Republican senators and not a single Republican member of the House. Rather than help save the economy that their party had done so much to wreck, Republicans, led by Senator Mitch McConnell, chose to oppose every Democratic measure, including Wall Street reform. In doing so, they would impede the recovery and let the other party take the fall. It was a brilliantly immoral strategy, and it pretty much worked.