John Cassidy insists that Obama’s stimulus isn’t the last one we’ll see:
Ultimately, the policy lessons that will be drawn from the Great Recession and its aftermath are that the stimulus worked (albeit not quite as well as some of its designers envisaged) and that Keynesian pump-priming is the only sensible response to a slump. The next time that the U.S. economy falls into a severe recession, regardless of which party controls the White House, Congress will vote through another stimulus, and a sizable one at that. …
Keynesian policies survive because they work in a crisis—not perfectly, but better than the alternatives. To argue that they have no future, you have to believe that the American political system is in such a decrepit state, so weakened by anti-government fever, that it can no longer process this reality, and can no longer correct itself.
The Dish 