David Brooks, the closest thing to a conservative over at the Newsletter for the Social Democrats (the New York Times) has some valid criticisms of the Democrats’ massive stimulus package. Read the article here.
But the stimulus bill emerging in the House of Representatives does neither of these things. The bill marked up Wednesday in the Appropriations Committee is a muddled mixture of short-term stimulus haste and long-term spending commitments. It is an unholy marriage that manages to combine the worst of each approach — rushed short-term planning with expensive long-term fiscal impact.
Brooks also endorses an idea that I really like, a payroll tax holiday:
There is a strong case to be made for a short, sharp stimulus package to restrain the collapse of the American economy. This would involve big, simple programs with immediate impact — a temporary cut in the payroll tax, big aid to the states, expanded unemployment insurance and food stamps.
Read the whole thing.