Academic

GREGG EASTERBROOK: It?s time for Obama to stop declaring new recovery plans. Here?s what the?

By Glenn Reynolds

GREGG EASTERBROOK: It?s time for Obama to stop declaring new recovery plans.

Here?s what the endless succession of plans has in common ? they haven?t worked. If something hasn?t worked, why does this cause us to think more of the same is required? The White House, Treasury Department and Congress should stop contemplating new plans.

Endless emphasis at high political levels on the need to ?do something,? if only to appease the press, communicates the message that U.S. leadership is either panicky or has no idea what?s going on or both. When leaders act perpetually panicked, voters and business managers become nervous. Voters want new leaders and business managers put off decisions until they have a better idea what may happen next. The result, for the economy, is slower growth than the mainly good world situation ? no resource shortages, low international tensions, rising education levels, liberalizing trade ? would seem to suggest.

Read the whole thing.

Full post as published by Instapundit.com on September 08, 2010 (boomark / email).