President Elect Barack Obama is unveiling his new economic stimulus plan, which basically looks like a bastardized version of the public works programs of the 1930s which deepened and extended the Great Depression well into World war II. Evidently it will focus on rebuilding America's infrastructure, using borrowed government funds--presumably from China as long as they are stupid enough to do so--to put Americans to work building bridges, roads, and whatever else.
This is the old Keynesian "building pyramids" strategy that perpetually fails, but is worshiped by the cult of the New Deal as brilliant despite its destructive consequences.
This is the seriocomic perversity that the Obama camp will continue to spill out onto a confused and historically challenged American public. While they grasp to look in control of an economic situation that will continue to deteriorate around them in ways they can't yet conceive, they will reach far back into the deep dusty pouch of failed policies of past generations.
At least we'll have nice roads, however.
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