Obama says he is swift and bold

Bloomberg.com quotes President-elect Barack Obama mischaracterizing the coming trillion dollar federal bailout of cities and states as an act of courage that will somehow reverse the economic downturn.

Lots of luck:

I can't imagine giving people like Kentucky Gov. Steve Beshear part of a trillion dollars will do much of anything but encourage him to come back next year begging for twice as much. The only way off this treadmill is to force governments to face the consequences for their actions and change their ways.