An excellent column by Steve Moore in the WSJ, on the GOP hurricane New Dealism:
When President Bush announced last Thursday that the feds would take a lead role in the reconstruction of New Orleans, he in effect established a new $200 billion federal line of credit. To put that $200 billion in perspective, we could give every one of the 500,000 families displaced by Katrina a check for $400,000, and they could each build a beach front home virtually anywhere in America. … Both political parties are now willing and eager to spend tax dollars as if they were passing out goody-bags to grabby four-year-olds at a birthday party. The Democrats are already forging their 2006 and 2008 message: We will spend just as many trillions of dollars as Republicans, but we will spend them better than they do. After witnessing the first few Republican misappropriations for Hurricane Katrina, the Democrats may very well be right.