Otherwise I can’t help but imagine such expenditures acting as a temporary propping up of fundamentally unsound practices and the establishment of new expesnive programs.

Exhibit A, GM. If taxpayers take over the benefits and pensions(which they shouldn’t anyway), GM still can’t compete due to large labor cost disparities. They’ll keep churning out lower quality vehicles than Toyota and Honda, and they’ll keep losing market share. Especially if fuel costs are high. The day of reckoning for the guys making 30, 40, 50 bucks per hour to mop a plant floor or screw on a door HAS to come. I don’t like saying that, but its true.

If Obama supports big giveaways without serious industry-fixing concessions simply because he wants to show he cares about the little guys, I’m ready to commit to him being a one-termer even though I voted for him. It’ll be an easy choice.

Like I have been saying elsewhere, whatever “stimulus plan” the next President and congress come up with, it has to figure out what the decent jobs are going to be for comparatively unskilled Americans over the next several decades. That’s the big question. Maybe the only one.

Increasing taxes won’t do it, especially given the fact that tax hikes have a generally negative impact on the economy.

All we’re talking about here is the Fed opening up the printing presses and increasing the money supply. That sounds like hyperinflation to me.