Who cares?

The nation not only needs the injection of money, it needs to see that somebody somewhere cares about what is happening.

That from yesterday's staff editorial in the Tennessean defending the federal fiscal stimulus. Hard to argue such a point - that it is important, necessary even, for people to understand that government cares - but the argument is worthwhile nonetheless. However, it is not so much a matter of whether to care or not but rather how that caring manifests itself. Let's assume that the primary purpose of the stimulus is to alleviate suffering rather than to "jumpstart" economic growth. Seems there is a powerful argument to be made that the massive spending is not focused enough on alleviating suffering, that it is unclear how spending designed to bring alternative energy to market or weatherize government buildings does little, in the short term, to alleviate suffering.

Also noteworthy is that some folks are doing well due to the downturn. Dollar General revenue is way up, shoe repair services are doing a brisk business, and seed companies are selling more seeds (I just placed my order). Apparently Breyer's is selling more ice cream. Used car salesmen are very busy.

Defending the fiscal stimulus package is one thing but shouldn't there be some mention of the trade off? Some mention that some sectors of the economy are counter-cyclical, that the market does work and we see plenty of evidence?

The notion that people who favor and promote free markets don't care has to be challenged. At times like this it is helpful to listen to a smart Jew and a dumb Irish-Catholic.