1) The stimulus failed to meet Larry Summers’ famous criteria of timely, targeted, or temporary.
2) The cap and trade legislation maximizes rent-seeking (favoritism toward particular businesses) and minimizes carbon reduction.
3) The proposed financial reforms are mostly cosmetic and fail to address the key issues of housing policy and regulatory capital arbitrage.
4) In championing health care reform, the President stresses the unsustainability of our current system, while insisting that nothing will change (you can keep your insurance, keep your doctor, etc.).
Tags: cap-and-trade legislation, carbon reduction, Health Care Reform, Larry Summers