'Headed to Havana?'

Brian Wesbury: ...we are already at, or very close to, an economic bottom.

Noteworthy:

One of the main arguments defending the
“stimulus” bill now working its ways through the
bowels of government is that US consumers need help
to keep spending. Without it, say many, consumption
will continue to decline rapidly, extending the recession
deep into 2009 and possibly beyond.

We highly doubt this type of stimulus will really
stimulate. Moreover, the decline in energy prices since
last summer has lifted workers’ total cash earnings
(adjusted for inflation) even as employment has fallen.

We believe that without Keynesian stimulus
(spending), the economy would recover from the rock
bottom levels of activity that currently exist.

The economy, especially auto sales and home building, is
operating at unsustainably low levels already. The only
way the recent pace could be sustained is if the US
starts to resemble Cuba after Castro’s communist coup,
with homes and cars frozen in time 50 years later.

That's assuming Barry, Harry, and Nancy haven't already screwed us permanently.