David Brooks signs on to Obama's second, centrist stimulus. Like David, I'm not sure how much good this will do; but I am sure that doing nothing risks a real double-dip and untold human pain. Like Obama, I think this proposal must be linked to the super-committee's long term debt reduction plan – so we can retain confidence that we are not once again raiding the future to subsidize the present.
But what Obama has is what Cameron doesn't: a reserve currency that is still irreplaceable and that gives him some extra and unique lee-way to treat a stalled economy. That makes the perfect strategy just possible: short term stimulus, longterm austerity and reform.
I see a president fighting on for such an obvious sweet spot. I also see an opposition finally beginning to realize he has a point, and at last somewhat afraid of obstructing him. Their intransigence has publicly displayed their power and now given them accountability.
It's far too optimistic to think that the twists and turns of the last year might actually at some point twist out right. But if this bill can pass, with core elements intact, and if the super-committee doesn't fail, then we have a chance to do now what we shouldn't put off till after the election.
Know hope (which isn't the same thing as optimism).
The Dish 