, Columnist
New $1.4 Trillion U.S. Stimulus Is in Sight: Douglas Holtz-Eakin
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The U.S. economy is struggling. More than two years after the end of the recession, unemployment is stuck at more than 9 percent. Analysts are lowering their estimates of growth, which they now forecast will be even slower than the disappointing pace of 2011’s first half.
President Barack Obama’s approach is to double-down on the failed strategy that brought the U.S. to this point. More temporary tax breaks, targeted at favored constituencies. More infrastructure spending, destined to arrive in time for the 2014 midterm elections. More bailout dollars for states. Another destined-to-fail layer on the labyrinthian federal jobs-training program. In short, more than $400 billion -- and another partisan fight in Washington.