It looks as if we'll get some kind of economic "stimulus" program from Washington. The effect few are considering is that even if it softens recessionary blows a bit, it will postpone the time when the economy corrects itself from the housing bubble, and perhaps introduce new distortions into the marketplace. Let's see, now. I'm far from the only one to note that the housing bubble was fed by loose-money policies at the Fed, creating a moral hazard few could resist. So it's going to be fixed by making the money even looser? Sure. That'll work.
Here's how the Register viewed things yesterday, hoping beyond hope that Congress and the president wouldn't be able to get together on a package.