I agree and disagree with different parts of this.  The ideological capture is mostly right, I think, but I doubt Geithner and Obama's stimulus push has much to do with a desire to piggyback on demand elsewhere.  Obama pushed his stimulus, which worked as expected and -- also as expected -- wasn't nearly large enough, and now there's no political will for more stimulus in the US.

As for piggybacking, I remind you that Merkel and Sarko were the ones who wanted to piggyback on the US stimulus back in early 2009, and threw a hissy fit at requirements in the bill that US companies and workers produce the goods and services -- the logic of the mandate, of course, being that it was our stimulus money and should go to our people and firms.

Europe threatened to take the US to the WTO over it, if I remember correctly, and I think Ben Nelson stripped the provision.

Be nice to America. Or we'll bring democracy to your country.