The Author said "So Obama will spend upwards of a trillion dollars of stimulus in a combination of tax cuts, building roads, bridges, and hopefully public transportation. And it can't hurt and maybe it will help." I can think of plenty of ways this could hurt.
Obama could create new entitlements that burden America for generations. The money could be used to prop up failing businesses, creating a situation where success is determined by who has the best lobbyists.
Not every loan is a bad idea, but plenty of them are. There is no guarantee the effect of this loan will be positive.
And by setting a precedent for bailing out bad businesses not only are the people who have to pay for this hurt, but everyone in the future because businesses will be encouraged to be corrupt rather than produce goods.
This is like in the prisoners dilemma, but you force the American people to not rat anyone out - so the corrupt businessman can get all the benefits at the cost of the American people.
Obama could create new entitlements that burden America for generations. The money could be used to prop up failing businesses, creating a situation where success is determined by who has the best lobbyists.
Not every loan is a bad idea, but plenty of them are. There is no guarantee the effect of this loan will be positive.