The economic stimulus package that must urgently be passed is nearing 900 BILLION dollars. Combine that with the 700 Billion that has already been spent and we are nearing 2 TRILLION dollars in stimulus spending, most of which will not stimulate the economy. There are questions as to whether it will actually create any jobs.
I give Obama credit for meeting with Republicans and telling them he was open to suggestions because this is more than the Democrats in Congress have done. But the reality is, bipartisanship and agreement are defined by Democrats as when you agree to what they want.
I have little doubt the stimulus will pass in the House because Democrats have a large majority there. There are enough votes to allow vulnerable Democrats to vote no. The Senate will be more tricky but it is likely that a few Republicans will defect to the other side and pass this boondoggle. Look how easily they rolled over on the nominations of Obama’s nominees…
Blue Dog Democrats and Republicans should be very careful. The next elections are not that far away and the public had had enough. A vote for the bailout could be a bad career move especially if the economy is still in turmoil when 2010 rolls around.
The stimulus is a bad idea. The first one did not work so the solution is to throw more money at the problem. This is like being in a boat with a hole in the bottom and deciding the way to fix the problem is to make the hole bigger.
The special interests are lined up in DC with their hands out for money we don’t have and that our grandchildren will be paying back.
This is no way to run a country.
Sources:
WSJ
My Way News
al Reuters
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