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Unrelated and often random comments from the incoming Congress and administration are beginning to create a tapestry of remarkable pessimism and diminished hope. No one believes now that the economy can be fixed fairly quickly even with a new $750 billion bailout package.
There was little reason to anticipate that this plan, designed to put hundreds of billions of dollars over two years into national infrastructure with a target of creating three million jobs, would work quickly. Most of the programs which are part of this economic package are complex and will take several quarters to add jobs for American workers.
Word is that the new administration and new Congress may add a $350 billion tax cut to other programs, but the passage of this legislation is far from assured.
