On Feb 4, 2009, at 11:59 AM, John Gulick wrote:
On this issue at least, I believe that Obama's courting of the Republicans and sandbagging of the liberals does not spring from some philosophical or political devotion to center-right bipartisanship (although O may well be possessed of that), but rather from his (and his team's) assessment that whatever package does get approved, it will be nugatory in its stimulative effect.
It's hard to believe that close to $1 trillion will be "nugatory." It's around 7% of GDP. And even with a modest multiplier, it approaches 10%.
As for courting the Reps, Obama is shameless in that regard. But as a practical matter, even the wet dream legislation of Barry, Larry, and Tim couldn't get through the Senate.
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