Thursday, April 2, 2009

Great Mystery

From the discerning mind of E. J. Dionne:

The great mystery of the Obama administration's economic agenda is whether its signature marriage of boldness and caution will prove to be a Goldilocks recipe that gets things just right, or a Rube Goldberg approach of unimaginable complexity and uncertain purpose.

Without question, President Obama's tax and budget proposals are daring, and his unwavering commitment to passing health care reform this year is both honorable and gutsy.

But his plan to bail out the banks reveals a deference to the existing financial system, deep worry about further unsettling an already troubled market, and a devout hope that the economic situation is not as bad as some economists, notably Nobel Prize winners
Paul Krugman and Joseph Stiglitz, fear.

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