600,000 Jobs

by Brien Jackson

That’s what Krugman estimates the bi-partisan fetishists cost the economy with their pointless cuts to the stimulus bill. But David Broder shed a tear of joy, and isn’t that worth way more than 600,000 jobs?

In all seriousness, I’m not one to jump on the fatalist bandwagon. Yes some worthwhile (and some very worthwhile) things were cut, and some rather pointless things were included. I mean, a tax credit to buy a house, didn’t a housing bubble kick off this shit fest? But in any event, some stimulus is better than nothing, and this is still a very large package at $850 billion. It’s also possible that much of what was cut from the Senate version of the bill will be re-inserted in conference, assuming Pelosi can outmaneuver the Senate, which apparently expects the House to pass the Senate version in full. I suppose some might worry that the Collins-Nelson axis will reject such a package when it comes back to the Senate, but I’m willing to bet they’ll come down on the side of stimulus if their backs are to the wall. Which is to say, I don’t think they’ll actually go out on a limb and actually defeat the bill in the Senate.

Still, the reduction in aid to states is very troubling. That’s the sort of crucial spending we need justto keep things relatively stable. So here’s hoping that, in particular, gets put back into the package before Obama signs it.