Link is to an interview conducted by Ezra Klein of the Washington Post, of Michael Grunwald, who is the author of the book The New New Deal: the Hidden Story of Change in the Obama Era. The interview is interesting enough to make me want to read the book. A key excerpt:
MG: Politically, one of the difficulties was the two-part messaging. You’re doing short-term recovery and transforming the economy in the long term. You’re doing tax cuts and spending. You’re doing stimulus now, and you’ll pivot to fiscal responsibility. You’re doing shovel ready and also looking for shovel worthy.
... take wind energy, which obviously it takes awhile to get a wind farm going. By the end of 2008, that industry was dead in the water. The day after the stimulus passed, one of the major wind companies, which was pulling out of America entirely, turned around and announced a $6 billion investment in the United States.
Health IT is another example I love. That’s one of the few where even they would admit there was no pretense of stimulus. The money didn’t go out the door till 2011. But right now, according to the Bureau of Labor Statistics, health IT is America’s fastest growing industry.
Hat tip to Andrew Sullivan at the Daily Dish, who excerpted some of the same portion of the interview here: http://andrewsulliva...e-stimulus.html