Here is a radical idea.
How about doing no stimulus?
Let the US economy hit bottom on its own and rebound naturally.
That's right. Do nothing except some targeted tax cuts directed at employers, or the job creators! Let's not give "tax credits" to people (i.e. Dem voters) who don't pay taxes to begin with!
The case for doing nothing By Eamon Javers and Jim VandeHei is making more and more sense to me.
How about some private sector oriented reforms? Rush Limbaugh is right:
"I say, cut the U.S. corporate tax rate -- at 35%, among the highest of all industrialized nations -- in half.
Suspend the capital gains tax for a year to incentivize new investment, after which it would be reimposed at 10%.
Then get out of the way!
Once Wall Street starts ticking up 500 points a day, the rest of the private sector will follow.
There's no reason to tell the American people their future is bleak.
There's no reason, as the administration is doing, to depress their hopes.
There's no reason to insist that recovery can't happen quickly, because it can."
Of course, Obama and the Dems have put themselves in a corner.
They've spent the last year telling us that this is the worst economic recession since the Puritans crossed the big ocean.
They've rung the "doom and gloom" bells so loud that most Americans can't hear the voice of reason.
They have to do "something".
However, we will learn that the "something" that passed yesterday won't fix our structural problems.
