Friday Night Stimulation

The Senate finally reached a compromise on the stimulus package and we should see it passed by both houses at some point in the coming week. I can’t resist the urge to have an I-told-you-so moment about the politics here: the final bill will probably pass without any Republican support, and it will emerge from aggressive back and forth on the Senate floor today, NOT from the “postpartisan” charm offensive President Obama was so psyched about last week. Obama gets points for fast learning, though: his tone was full of red meat today.

Obama’s leadership style was a topic of discussion at a panel I attended last night about the economic challenges we face. Common criticisms were
–Obama does not yet recognize that the rest of his domestic agenda is never going to happen because all political (and real) capital for his first term will get spent on the stim
–Obama trumps the previous crowd in the quality of the experts he’s got BUT he has a problem actually making decisions that use their expertise effectively because the experts are all competing prima donnas. We should thus expect a lot of waffling on his economic policy.

The panel was overall pretty impressive:
BusinessWeek’s Steve Adler
CNBC’s Steve Liesman
NYTimes’ Floyd Norris
Credit Suisse’s Neil Soss
and author Bill Holstein
and they made some good points: Read the rest of this entry »