-By Warner Todd Huston
CNNs Fareed Zakaria and The New York Times’ Paul Krugman have solved our economic problems. They’ve decided that a space alien attack will save us. Aside from the guffaw factor of space aliens, there was so much wrong with this CNN segment that we must lay them out for discussion.
First on the clip is some pinhead from Harvard claiming that “infrastructure spending, that’s great.” He says he’d even borrow money for such programs. This guy thinks that if we had another giant stimulus (like a WWII Works program), why we’d be doing just “great.”
He is, of course, a Keynesian fool. Stimulus does not work. Stimulus has never worked. Further, “stimulus” itself is a misnomer. Take Illinois, for instance. It got millions upon millions of dollars in so-called stimulus money from Obama. Do you know what Illinois did with that money? It paid existing debt, it paid current bills. It “stimulated” nothing with all those millions. This happened all across the country in every state. The “stimulus” did not stimulate anything but instead went to pay exiting bills and created nothing new, supported no new projects. It was a sham.
Amusingly, this guy tried to qualify his support of infrastructure spending saying “as long as it isn’t Big Dig” sort of over spending. The “Big Dig” is a reference to the underground Central Artery/Tunnel Project undertaken by the Boston Metro Highway System that is famous for being a total boondoggle that has gone billions over budget, not to mention having so many structural and engineering failures that the whole thing is a death trap waiting to happen.
Problem is, every state project becomes a version of the Big Dig at some level. At the very least they always, always, always go over budget, at worst they become a pit of political failure and corruption. So, while this Harvard pinhead tried to qualify his position, he did so on a bed of quicksand.
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CNN/Krugman: A Space Alien Attack Will Save Us (Disses FDR, Wants a Fake War?)”
In his Wednesday presser on the state of the economy President Obama several times attacked those evil rich folks flying about in corporate jets saying that the filthy rich could “afford” higher taxes. But while he spent so much time slamming corporate jets today, back in 2009 the president was pushing a stimulus bill that included tax breaks to corporate jets.
At the Detroit Economic Club today, Treasury Secretary Timothy Geithner tried to claim the auto bailout is a success. 
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You know the old saying, “stupid is as stupid does”? Enter the AFL-CIO’s Richard Trumka, one of the most violence prone union presidents in America, who has come up with a brilliant strategy to solve America’s troubles. He says we need to raise taxes to pay his union members even higher salaries and we need another giant stimulus package to chase after the other failed stimulus packages to “create” jobs.
In 2008 Obama ran for president claiming that he wanted to make Washington more transparent than ever. Obama ran as the law-and-order man, he ran as the anti-lobbyist man, and he ran as the man for all the people, the great centrist that would finally work for the people. He ran saying that Bush was a lawless president and that he, Obama, would shut down the illicit Guantanamo facility and immediately end all the “illegal wars” that Bush was prosecuting.
Oh, it was a thing to be celebrated when 
Last week the House Republicans issued their update of the 1994 “Contract With America.” They have labeled it the “