You Should Have Seen It Coming, Larry

Larry Kudlow rightly blasts the wasteful spending related to the rebuilding of New Orleans after it was devastated by hurricance Katrina two years ago.

The problem is that back in 2005, Larry Kudlow attacked the people that criticized the New Orleans spending spree with completely nonsensical arguments. Let's hope Larry and others learn from this that government projects as a rule tend to be very wasteful, with higher costs and less results than private sector projects.