Democrats Now Realize Stimulus Will Fall Short
Mar 14, 2009 Political
The Democrats passed a spending bill that will end up costing more than a trillion dollars and in the run up to it they made a lot of claims as to why it was necessary. Obama said it had to be done immediately and promised that it would create or save (fraud alert: no one can measure a saved job) millions of jobs and that it would stimulate the economy. This monster passed even though many Republicans opposed it and said that it was full of wasteful spending. The bill was nicknamed the Porkulus bill.
The economy is not in crisis but it is in a tough down turn. The reality is that we could have done NO spending and the economy would recover. It would recover much faster if the government took a bold step and reduced the corporate tax to zero for a year and then brought it up by half at the end of the year. If we reduced capital gains to zero for a year and then brought them up to half it would have a big impact as well. If government felt it had to intervene it would have done better to have a smaller spending program with items that would provide immediate impact. Instead it went for a monster saying it was necessary to avoid a crash we could not get out of. After it was all done they started to lower expectations as to how long it will be to see a difference and then Obama said it really wasn’t as bad as he thought. They can’t cut taxes or follow what Republicans say because if it works they are done.
Now they are in a bind. The Republicans have been saying that the porkulus was full of political payoffs. It was full of things that will not stimulate the economy or create jobs and it was passed using the crisis to get it through with the purpose of making political payoff. All of this is an accurate assessment. The public is none too happy about the continuing loss of jobs and the slide of the stock market, Obama’s poll, and they are starting to get the message.
Democrats are seeing the different polls indicating that economists give Obama a failing grade and the online poll at MSNBC that gives him an F for what he has done so far. Obama and the Democrats have been saying that another stimulus might be needed but the public is not buying it. They know that the last one has not had time to work and that nothing should be passed until we see how this abortion is going to end up.
But the Dems, who backtracked on the second stimulus (at least publicly) really want to pass another one. They want to pass one with items that will affect the economy and jobs more quickly. They want to do what Republicans wanted to do the last time. They want to do this because they know the first bill will not provide what they promised and they need to do something to deliver or they will be toast.
Say no to a second stimulus. They said this one would work and Obama said it had to be enacted right away and then they said it might take a while. Well then we wait a while and not throw more money at this problem. We wait and see if what they said pans out. If that means they have to wait until next year then so be it.
They forced us to spend the money and now they are not going to use more of our money to cover their ineptitude and failures.
No more money on stimulus packages.
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Tags: Democrats, jobs, lies, Obama, payoff, porkulus, spending