The 2nd stimulus - out the corner of your eye
Written by Michael Vass
Michael Scherer of TIME had an article today that I thought was quite interesting. The article Is the White House Planning a Second Stimulus Payout? outlines what the prospects are. And I agree straight down the line, as I did months ago.
The fact is that more and more of Washington DC analysts and commentators and press are catching on to what I proposed in the past. That the Democrats have no clue about economics, the Obama Stimulus is a complete waste of money, and this failure will be covered up by real economic stimulus -
But the key is not that a second Obama Stimulus is being planned. It’s not that the initial parts of the 2nd stimulus is being put together to be passed by Congress before the end of the year. The critical thing to understand is that all of the parts of the 2nd stimulus will be done independent of any other part. I have to give Scherer credit for noticing that before I did.
The only reason that it will be done in this manner is because Democrats can’t have yet another stimulus plan on their necks. They will be walking into the 2010 mid-term elections with failure surrounding them. The smell of the results they have thusfar reaped can only get worse if the phrase “2nd stimulus” reaches the ears of the voting public.
After now having the facts made public, with far far less than the promised 1 million jobs created at a cost of $71,000 each, the White House and Congressional Democrats are reaching to find a polispeak angle to imply success. Add to this the fact that all the unpopular Health Care Reform Bills are more expensive than stated and questionably less effective, while being completely unwritten and hidden from the public eye.
And there is still the forthcoming Cap & Trade Bill that will increase, possibly by double in some instances, the cost of electricity to the public and business.
Democrats calling for even more money to be spent to stem the rising unemployment rate, in another package of a size that doesn’t fit many calculators, would be committing political suicide. So instead, the 2nd stimulus will be done in small parts, spread over time, without any mention of another part so that the general public does not notice.
In effect Congress is pulling a scam. Selling the public one item and then another because its needed as much as the first part bought. And so on. Kind of like buying a car, and then being told that the engine, the steering wheel, and each tire are all separate of the cost. And you are stuck with the car no matter what option you might chose not to pay for, or that may not work even if you do.
So I am not surprised that Michael Sherer has noticed what I saw coming. I’m just wondering how long it will be before anyone in the press dares to ask President Obama about it.
