Long time, no blog. There are so many things going on. But I think I must add my small voice to the bailout mania.
Although Bush 43 has been portrayed by some on the left as a type of ur-conservative, he was never that. He did cut taxes but restraining spending was never very important to him. The creation of large slush funds to bail out whoever has the political capital to stake a claim seems wildly wrongheaded.
Perhaps Obama, to the disgust of the netroots, won't continue this policy. So far, his appointments in the economic area, in sharp contradiction to his campaign rhetoric, seem largely in line with the Reagan consensus.
But then there is this is this talk of a two year recovery plan and massive infusions of government cash into the economy as if passing money through Washington somehow creates value that was not there before it passed go at the Potomac. This hasn't worked in the past and seems unlikely to work now.