A story in today’s Politico seeking to explain why John McCain has been so critical of Barack Obama since the election contains this perplexing passage:
Discussing Obama’s first big initiative, the stimulus, Salter said that his old boss could not get behind what was mostly an infrastructure spending bill.
“If [Obama] had said we’re going to do this half my way and half your way, guys like John McCain and others would have been all over it,” he said.
It’s not a direct quote, so it’s not clear whether the characterization of the stimulus measure as “mostly an infrastructure spending bill” is Salter’s or Politico’s. Either way, it’s not really accurate. “Infrastructure” is a bit of a fuzzy term, so measures of infrastructure funding in the $787 billion package vary, but in all cases they’re well below “most” of the bill. USA Today’s stimulus breakdown, which cites the AP, lists about $85 billion in infrastructure funding. ProPublica, meanwhile, tallies about $98 billion in “transportation and infrastructure” funds, plus another $19 billion in “infrastructure financing tools.” Another account, meanwhile, put it at $144 billion. That’s not nothing, but the idea that the stimulus package was first and foremost an “infrastructure bill” rests largely on media coverage that, throughout the summer, measured the law’s success by the number of hardhats it put to work.
So if the stimulus package wasn’t all about infrastructure, what was in it? As the ProPublica breakdown notes, the single biggest category was tax relief for individuals, which, if you include AMT relief, amounted to nearly a quarter of a trillion dollars. Add in stepped-up assistance to cash-strapped states and towns, and you can account for about half the measure. That’s not to say it’s surprising that McCain didn’t support it—much of the spending in the bill did go to government programs that Republicans, historically, haven’t been big supporters of. But it wasn’t, for the most part, about infrastructure.
First off, Larry Summers and company HATE infrastructure.
http://thinkprogress.org/2009/01/23/defazio-on-summers/
Obama likes to play the game "If only my opponents weren't so bad, I could do what I want." as an excuse to do what he really wants without accepting the blame. The republican critiques of his stimulus are garbage, not because the stimulus doesn't deserve critique, but because their critiques are moronic.
They're the kind of people who'd tell a heart patient, "you need more beer and peanuts".
Nate Silver does his own take on the stimulus.
http://www.fivethirtyeight.com/2009/12/greg-mankiw-stimulus-critic-so-wrong.html
#1 Posted by Thimbles, CJR on Tue 15 Dec 2009 at 08:49 AM
Right its true Larry HATE infrastructure ;) now.... I had some fun reading about David Paterson managing NY stimulus lol
#2 Posted by Mart, CJR on Tue 17 Apr 2012 at 02:17 PM