It (Still) Won’t Work

From my latest American Spectator column:

. . . The real problem with the stimulus bill is not that it is too big (although it is too big) nor its various objectionable ingredients (although many are objectionable), but rather that it is based on a false economic theory.
“The American people…did not vote for the false theories of the past,” Obama assured his listeners Thursday. Yet the “economic recovery plan” pushed by Pelosi and other Democrats is nothing but Keynesian theory in postmodern drag, elegantly costumed by the Orator-in-Chief with a lot of glittering generalities about “modernizing our health care system…21st century classrooms…and end[ing] the tyranny of oil in our time.”
This plan is not a Change We Can Believe In and, as I wrote two months ago, before Obama was inaugurated, it won’t work. . . .

Please read the whole thing.

(Cross-posted at The Other McCain.)

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