Sperling Calls for Overwhelming Force

Gene Sperling, speaking at a CAPAF event, says we need big-time stimulus, calls for a “Powell Doctrine-type approach”:

As readers will know, I’m inclined to agree. That said, watching bailout mania unfold it’s worth noting that it would also be a good idea to keep some kind of eye on the actual merits of the projects we’re contemplating. The case for stimulus doesn’t need to rely on an unrealistic assumption of perfectly, but we do need to be mostly spending the money on stuff that’s actually worthwhile.