Tuesday, July 07, 2009
But the question is, is it more or less arrogant than an administration talking about doing it again?
New York Times reporter Nelson Schwartz finds the French are doing a better job of spending stimulus money than their counterparts in Washington. It's a fascinating story of how bureaucrats who've perfected the art of government waste got an extra $34 billion to fritter away, but Schwartz focuses on the rather paltry $100 million devoted to restoring the even more extravagant state-funded projects of pre-revolutionary France. He also hints at some anecdotal evidence that the money is having an impact.The Washington Post did a more thorough job on the details of the French stimulus back in January. It's a mix of infrastructure spending, cash payments, and tax write-offs. But at just $34 billion the French stimulus is small potatoes compared to the $787 billion Democrats plan to spend. So the French have been able to waste less money faster. And they're arrogant about it.