Doug Henwood says there are just now a few signs that the economy may be recovering ever so slightly. But Obama will need to pay for the stimulus somehow, and that could get ugly.
I’ve been coming around to the idea that in their heart of hearts, Obama & Co. are planning an eventual austerity program. That is, the only way to pay for all this stimulus, if you don’t want to tax the rich heavily (and it’s looking like neither Obama nor the Congressional Dems want to do that), then there’s only one other way to fund all these trillions of stimuli and bailout: cutting social spending to the bone.