But I am a bit worried that his knowledge of economics may not be as extensive as his legal background. In particular, he’s been campaigning with an idea of a second round of economic stimulus to combat the evident slowdown in the economy, to follow President Bush’s first round that is now wrapping up. The first round hasn’t succeeded, and Senator Obama’s ideas aren’t very promising, either.
In that first round, the government has basically borrowed $80 billion to $100 billion and used it to send out checks to most American taxpayers. The hope was that the extra money in taxpayers’ pockets would stimulate consumption."