Mr. Dionne again. He says that European problems are nothing like our problems. Greece is nothing like us. Then he goes ahead and compares US problems with European problems. Quite convincingly so.
He also says that the bank bailout, pouring money on banks who knowingly lent money to people with no money, was good and that the auto bailout, surpassing the actual people who invested in GM and giving all the money and ownership to the UAW, was a good thing!
Early in the recession, the feds were able to offset problems in the country's most troubled regions with a stimulus program (and also with that auto bailout that so many, including Mitt Romney, opposed). The stimulus should have been bigger, and it should have extended over a longer period. But it helped.
Second, we bailed out our banks right away and also have a more effective central bank. We thus avoided some of the problems now facing Europe, notably in Spain.
So EJ Dionne is FOR Crony Capitalism. I see.
Later in the article he mentions that all we really need is growth and government can spend and spend and spend and that will help boost the economy. The Republicans should agree to:
"pump more money into state governments and into infrastructure spending to speed a decline in unemployment."
Really? I have one question for Mr. Dionne. Where will all that money come from? From collecting taxes? Why then are you so sure that the government officials and bureaucrats would spend that money more wisely than the people who earned it in the first place?
This kind of "educated think" is just so sad because it just defies logic.
from E.J. Dionne Columns and Blog Posts http://feeds.washingtonpost.com/click.phdo?i=71bab1598df4d6caa154ea1a168afc70