Janet Daley:
How long do we go on pretending that all we are facing is a choice of strategy for ending an economic crisis? That the only big argument that must be settled is whether it is more urgent to cut the deficit or to stimulate growth? How long before it becomes apparent that the answer which is going to be offered by all political leaders – or, at least those who have to rely on being elected – will be a hopeless fudge? And that the ambivalence and deliberate obfuscation of the politicians is not simply cowardice in the face of financial hardship but fear of facing the truly enormous political question that lies beneath this debate.
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Obama claims we still need to spend to grow the economy. Republicans believe that if we quit spending, companies will have more resources to invest in their own development and that will grow the economy. We already know that spending has not stimulated the economy in any material way. It is time to stop the spending.
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