The Stimulus Package

Good conservative that I am, I get nervous when the federal government spurs itself into action to stimulate a slowing economy, as is the case now.

With that said, the recent plan agreed to by Congressional Democrats, Republicans, and the White House seems entirely palatable. It is not a silver bullet that will rescue the economy from recession if recession there will be, but at best it will give a little shot in the arm to an economy that has been staggered by a floundering housing market and at worst it will have no effect positively or, most importantly, negatively on the overall performance of the economy. It might also have the benefit of easing public fear a little bit, lest fear of recession become self-fulfilling prophecy.

Assuming the plan makes it out of the Senate and conference predominantly in its current form—possibly an audacious assumption given a senators’ general taste for including his or her own pet projects in any and every piece of legislation—this stimulus is worthy of support. As Irwin M. Stelzer writes, "The proposed stimulus is not large enough to cause any real harm, and just might help the economy right itself...The plan that is taking final shape will not add to the structural budget; it will target the right people, and get the cash to them quickly, and it will be temporary." That is exactly the criterion that this and any stimulus in these circumstances must meet.

Finally, if for nothing else, this stimulus will return tax dollars to the American people from whom they originally came. There is never anything wrong with that.