Friday, February 13, 2009

Drunk Old Sam

Travis on Keynesian spending and the stimulus package: in theory, under some circumstances, it could help the economy.

But ....

I do not think that under the political process, anything remotely approaching the “some Keynesian spending that could be effective” could ever get enacted. The only thing that you can possibly get out of the swamp of DC is a metric ton of lard with a bow on top.

To make an analogy: if your garden shed is on fire and some folks say “we should get drunk old Sam to throw a bucket of water on it” and I say “I’m not sure that that’s a good idea”, it’s not because I deny that water (sometimes) puts out fires: it’s because I happen to know that the four of the last five times that Sam has tried to put out fires he’s crashed through three other people’s living rooms to do so, by the time he got to the fire it was pretty much out, and what he actually ended up doing was throwing a bucket containing gasoline through the living room window of the house next door, thus starting another fire, and the fifth time drunk old Sam did show up on time and pitched a sealed bottle of Evian into a bonfire.

Well said.

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