Smoot-Hawley, Anyone?

It is widely recognized that the passage of the protectionist Smoot-Hawley Tariff Act in 1930 helped turn things from bad to worse at the beginning of the Great Depression...

IBDeditorials.com: Editorials, Political Cartoons, and Polls from Investor's Business Daily -- Buy American, Buy Depression: "The new administration watered down a protectionist 'Buy American' provision in the Senate stimulus bill and hoped all sides would go away happy. But they won't, as the European Union envoy to the U.S. explains."

The Buy America provisions of the stimulus package have little chance of doing any good, but great potential to do great harm. Thanks, Congress, for learning nothing from history.