All told, Paris has set aside 100 million euros in stimulus funds earmarked for what the French like to call their cultural patrimony. It is a French twist on how to overcome the global downturn, spending borrowed money avidly to beautify the nation even as it also races ahead of the United States in more classic Keynesian ways: fixing potholes, upgrading railroads and pursuing other “shovel ready” projects.
“America is six months behind; it has wasted a lot of time,” said Patrick Devedjian, the minister in charge of the French relance, or stimulus. By the time Washington gets around to doling out most of its money, Mr. Devedjian sniffed, “the crisis could be over.”
Gallic pride aside, Mr. Devedjian has a point. While he plans to spend 75 percent of France’s stimulus money this year, the White House is giving itself until fall 2010 to lay out that big a share of the American expenditure. And many experts predict that Washington will fall short of that goal.
WHY WOULDN'T OBAMA WANT TO SPEND IT FAST?
OBAMA USED THE FINANCIAL CRISIS TO PASS A BOONDOGGLE FOR THE MACHINE, NOT A STIMULUS.
AND HE'S BUSY FIRING IG'S AND GETTING CONGRESS TO REWRITE LAST YEAR'S IG-PROTECTION ACT TO MAKE THE IG'S ALL REPORT TO OBAMA SO THAT WHEN HE DOES DOLE OUT OUR MONEY TO HIS CRONIES NO ONE INDEPENDENT IS THERE TO INVESTIGATE.