Obama on TV

I just saw Obama's interview, or much of it, on CNN...

I'd have to say he was dynamite. I heard his approval rating on the stimulus package was already at about 2/3rds agree, I'm certain he'll get a nice bump from it. If only he didn't have Summers as his most influential adviser, I believe he could accomplish about anything...

The weakest point, I thought, was when he said something about how we have a $2 trillion dollar hole in demand between this year and next, so that's why we need an $800 billion dollar stimulus. Excuse me, Mr. President, but then why wouldn't we need a $2 trillion dollar stimulus? OK, ok, if we had a spending multiplier of 2, then perhaps it wouldn't be so bad... but since inaction on the federal level implies drastic tax increases and spending cuts at the state and local level, and since much of the plan consists of tax cuts, (w/ a multiplier of one or less), its hard to see why this plan isn't deeply inadequate.