The stimulus plan passed in the the summer didn't do anything to salvage a drooping economy, did it? So now the Democrats have an idea: they want another one. Somehow in the feverish days of a presidential campaign a scheme to hand out another $300 BILLION in checks is barely considered worth discussing.
But Steve Forbes discussed it first last February and hit it again at the Gilder/Forbes Telecosm conference and again lately.
Bailout mania has overtaken common sense. Even the United States cannot just throw money at a problem and hope to solve it. What we can do is damage our dollar--a surprising strength right now--and go into long term economic decline. Instead invest that money in new businesses and jobs through tax cuts and infrastructure.
