Hurry up and wait
I have been avoiding posting on anything serious lately because I promised Mrs. A after seeing all the jaguars we did in Brazil that I would be in a good mood for 6 months!
One thing that I do find interesting is the clash between the supposed urgency of political action and the implementation of policy that is contained inside the action plan.
Consider first the stimulus bill. President O insisted in fast action using semi-apocalyptic rhetoric to help insure very quick passage. Later, as unemployment rose faster than original no-stimulus projections, and people were either labeling the bill a failure or calling for a second stimulus, President O pointed out, correctly, that it was way too early to judge the bill, because the main chunk of spending wouldn't hit the economy until the second quarter of 2010!
Does anyone beside me think that is funny? By then, according to most forecasts, we should be into a recovery. Hey, maybe that's why fiscal policy is often pro-cyclical? So it will seem like it's working?
It seems like the same course is being taken with health care reform. The cause is urgent, action must be taken now, but I am pretty sure that many of the proposals in the bills under consideration do not take effect until years after passage!
It will be interesting to see if "hurry up and wait" works again.