OBAMA PLAYING THE FEAR CARD?

Fats Limbaugh, Hannity and other gasbags would have you think so but even an AEI wingnut thinks we have to do something now!

Economists Agree Time Is of the Essence for Stimulus
By Steven Mufson and Lori Montgomery
Washington Post Staff Writers
Sunday, February 8, 2009; Page A01

Several months ago, Alan Viard, a Bush administration economist now at the American Enterprise Institute, thought the right size for a government spending bill was "probably zero." He favored reliance on the Federal Reserve to slash interest rates and existing unemployment benefits to bolster the jobless.

Now Viard shares the view that a stimulus package is needed, although he would prefer one limited primarily to tax cuts and direct benefits for victims of the recession, such as increased unemployment benefits.

"Things have gotten so bad so quickly," Viard said. "We have now lost 3.6 million jobs, a stunning loss. But what's more horrifying is that half that loss has occurred in the last three months. This is a severe recession. There's no doubt about it."