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Posted by Richard on February 13, 2009

Jed Babbin:

The Obama team wants to boldly take our economy where no economy has gone before. Ladies and gentlemen, I give you the birth of “Trekonomics.” It’s like the old “Star Trek” series, just without the brainy, logical Vulcans.

The monstrosity known as the "stimulus" package reportedly scraps much of the highly successful welfare reform of the 90s, so I guess there'll be many more Klingons.

But as Babbin argued, instability and uncertainty in government policies are the enemies of sound business planning and a serious problem for the economy going forward. Yet, this administration is making it all up as they go along, and they don't mind saying so: 

As if to drive the instability knife deeper, Geithner did say of his new strategy, “We will have to adapt it as conditions change. We will have to try things we've never tried before. We will make mistakes. We will go through periods in which things get worse and progress is uneven or interrupted.”

This announcement was the perfect antidote to confidence: any credibility Obama and Geithner had gained in the over-hyped lead up to the announcement was vaporized.


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