Quote of the day | Free exchange | Economist.com:Let's start throwing virgins into volcanoes! I admit: Seems to defy economic logic. But so far economic logic hasn't worked.
It's early yet, but we're unlikely to top this one:As a liberal Democrat, I favor a new stimulus. Unemployment of 9.5 percent is too high. And things could be getting worse. Try this: Dedicate the stimulus package to a massive national public works project that rebuilds every broken-down bridge, railroad and highway in America, and mandate that the building begin within weeks: One week for every state to submit their lists of bridges and highways that need fixing; the second week, offer the contracts for bid by bridge- and road-building companies; and the third or fourth week, hundreds of billions of dollars in checks get mailed to the states, which will administer and pay for the projects -- with some of the money used to pay for new state jobs to run the rebuilding projects.-- Lanny Davis, Special counsel to President Bill Clinton from 1996 to 1998
But how will we pay for it? I don't want the government to borrow or print any more money. So how about a surtax for everyone -- a little for lower-income, more for middle-income, even more for wealthy people? I admit: Seems to defy economic logic. But so far economic logic hasn't worked.
Even putting aside economic logic, does this guy have any idea how federal procurement works? It takes longer than a week to order a xerox machine.
More obviously, does he have any idea how civil engineering works? You can't study a site, plan a project, write up a proposal, wait for the proposal to be evaluated, order equipment, and set to work in a fortnight. You couldn't get a damn tree house constructed that quickly, but we're going to be building bridges and highways in 14 to 21 days?