Facing an economic downturn and an election, politicians of both parties sought to stimulate consumer demand—and some business investment—through political action. They promised that if the early 2008 “Stimulus Package” didn’t succeed, there would be “more to come.”
It didn’t work, and a stimulus is now the number one Obama priority. His “Big Bang” agenda has to wait its turn.
As in recent stimulus campaigns—for example, during the first terms of presidents Bill Clinton and George W. Bush—almost all today’s politicians accept…
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