Caroline Baum, at Bloomberg, expresses skepticism that treating printed dollars as pixie dust and sprinkling them on democrat pet projects and constituencies will really make the faltering economy fly.

Whoops! Somewhere a fairy just died.

It’s a jobs-creation program. No, it’s investment in our future.

It’s a tax-relief plan. Wait, it provides assistance to consumers hardest hit by the economic recession.

It’s legislation to jump-start the economy. No, it’s a recovery program. It’s a life raft for state and local governments. It’s a spending bill.

Which is it? Fiscal stimulus is all things to all people. In other words, it represents the triumph of faith over reason.

Read the whole thing.