Tim Kane wisely notes that we could have had a one-year payroll tax holiday for the cost of Obama's fiscal stimulus program:
What's amazing is that much of the rest of the bill's stimulus does
not actually enter the economy until 2010, 2011, 2012 ... you get the
idea. Even if you believe in government expenditures as stimulus - and
I do not - the timing problem is not solvable.
So guess what else 800 billion dollars could pay for? The total
revenues from all payroll taxes in a single year, by eerie coincidence,
equals just $800b...
And in other news, if I had a billion dollars for every major missed policy opportunity in the last year, I'd have about $800B, too!