Bad politics and urgent remedies

My Monday column for the FT is a plea for rapid action on the stimulus.

You could not call the fiscal stimulus passed by the US House of Representatives last week, without a single Republican vote, a beautiful piece of legislation.


With luck it will be improved over the next few weeks. But if you believe, as I do, that a big stimulus is needed, a measure of this sort, however unlovely, is far safer than the likeliest alternative -- which is further protracted delay.


While Washington quarrels about the details in this absurdly complex proposal -- it runs to more than 600 pages -- the recession worsens.


Politicians seem unaware. Jobs are evaporating, the housing market continues to deteriorate, a fresh and even larger wave of mortgage foreclosures may be approaching, the financial system is prostrate. Meanwhile, Democrats dream their dreams about reinventing America and Republicans recite their anti-government catechism.

You can read the rest here.

Presented by

The Man Who Owns 40,000 Video Games

A short documentary about an Austrian gamer with an uncommon obsession

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus

Video

The 86-Year-Old Farmer Who Won't Quit

A filmmaker returns to his hometown to profile the patriarch of a family farm

Video

Riding Unicycles in a Cave

"If you fall down and break your leg, there's no way out."

Video

Carrot: A Pitch-Perfect Satire of Tech

"It's not just a vegetable. It's what a vegetable should be."

Video

An Ingenious 360-Degree Time-Lapse

Watch the world become a cartoonishly small playground

Video

The Benefits of Living Alone on a Mountain

"You really have to love solitary time by yourself."

More in Business

Just In