Almost money for nothing

Via Political Insider, Sen. Johnny Isakson has struck a deal to extend the homebuyer tax credit.

On the whole, it's not a bad thing.

Then again, I don't think it's responsible for the bump in home sales to the extent its supporters think it is. And I think we could spend $16 billion in a more efficient way as a direct debit progam a la Taiwan or by boosting spending on infrastructure projects, thus resulting in direct employment through private contractors.

Isakson's amendment makes it a much better proposal, as he raises the income level and makes it open to folks other than first-time buyers, but the economic data is still kinda iffy.