Insanity: doing the same thing over and over again and expecting different results.
By this definition Barack Obama is insane. His stimulus packages have failed to deliver. The deficit is up. The economy is largely stalled. Unemployment refuses to budge. So what's his latest and greatest plan? More stimulus.
Why should it be different this time? What magic ingredient is there in this package that isn't in the others?
The deficit will continue to climb. Consumer confidence will continue to stagnate. Unemployment won't shift.
If he wants to boost demand then the measures are simple:
- cut taxes all round
- cut climate-related programs
- quit foreign wars
- stop supporting lame-duck banks and auto manufacturers
- just leave the economy to right itself
Mind you, Obama doesn't have a monopoly on insanity. The entire political class in Europe is infected with the same madness - witness the increasingly desperate closing of eyes and hoping for the best around saving the Euro....