Daniel Henninger: Exactly How Does Stimulus Work?

Henninger's column is always worth reading, even if you don't agree with everything he says, he almost always has an interesting point of view on an important topic. Today he is in good form.

http://online.wsj.com/article/SB123440338832275537.html

Highlights:

The whole congressional effort is an irrelevant sideshow; only the final spending number matters. The economics don't matter, because the real political purpose of the bill is to neutralize this issue until the economy recovers on its own. Much of its spending is a massive cash transfer to the party's union constituencies; a percentage of that cash will flow back into the 2010 congressional races. The bill in great part is a Trojan horse of Democratic policies not related to anyone's model of economic stimulus.