As much as it pains him, Irwin Stelzer calls Obama's economic plan "coherent" with some possibility of success.

He sums it up this way:

"Spend now, cut taxes now, and run deficits now. Build stuff that has a positive social value. Maintain faith in the currency by brokering a grand bargain to bring entitlement spending and therefore post-recession deficits under control. At the right time, call in all that extra cash that is sloshing around, thereby preventing inflation. And all will be well in this best of all possible worlds."