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She says it’s wasteful spending.  She also thinks it’s not going away, because of this:

[Repeal would] have a pretty nasty effect on housing prices.  Even people with little or no mortgage would be adversely affected by a price drop in their largest asset.
It’s as if McArdle is unaware that a large mobilization of voters is suddenly interested in sensible ways to cut government spending.  Heck, the tea party movement began with this:
How many of you people want to pay for your neighbors’ mortgage that has an extra bathroom and can’t pay their bills?
Isn’t this exactly the outrage you’d need to overturn a popular policy?  Instead of harping on the tea parties, or ignoring them, thinkers should throw them good policy ideas.

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