Andrew Samwick states the obvious, clearly and well:
I think we are now 18 months behind where we should be in moving forward with sensible government spending plans. We should have pulled the fiscal policy ripcord in January 2008 with a public investment plan designed to repair our aging infrastructure. I’d rather have the 18 months back — as would the millions of unemployed workers who could have been collecting a paycheck if we had started sooner — but the proper course of action today is the same as it was then.
You know what’s coming next, don’t you?