Feb 07 2009

“Stimulus” Bill A Cruel Joke On America

Published by at 4:33 pm under All General Discussions

money

Update: Reader Crosspatch noted this Rasmussen poll which shows stunning losses in support for  President Obama in less than a month in office. What is striking is that he his losing support among independents and democrats at a pretty hefty rate. Rassmussen subtracts strong unfavorable from the strong favorable number to get an idea of the intensity of support. That indicator has fallen from +13 to +5 for independents. Strong support from dems has dropped 12%. The man is flying through his political capitol at a record pace – end update.

President Obama and the liberal democratic forces are vultures feeding on the remnant shards of meat hanging on our economy’s carcass – an economy destroyed by excessive and risky liberal policies to ‘share the wealth’ by handing things of large value to people not ready to take on the responsibility of managing those things. Three weeks in and the facade is nearly completely ripped from the powers that be in DC.

If DC smelled funky before the election, it wreaks to high heaven now. Consider these wonderful indications of ‘Change‘ in DC:

And so much for the promise to banish the money changers and influence peddlers from the temple. An ostentatious executive order banning lobbyists was immediately followed by the nomination of at least a dozen current or former lobbyists to high position. Followed by a Treasury secretary who allegedly couldn’t understand the payroll tax provisions in his 1040.

As Michael Kinsley once observed, in Washington the real scandal isn’t what’s illegal, but what’s legal. Not paying taxes is one thing. But what made this case intolerable was the perfectly legal dealings that amassed Daschle $5.2 million in just two years.

He’d been getting $1 million per year from a law firm. But he’s not a lawyer, nor a registered lobbyist. You don’t get paid this kind of money to instruct partners on the Senate markup process. You get it for picking up the phone and peddling influence.

Daschle, who had made another cool million a year (plus chauffeur and Caddy) for unspecified services to a pal’s private equity firm, represented everything Obama said he’d come to Washington to upend.

It’s not just pages and pages of special-interest tax breaks, giveaways and protections, one of which would set off a ruinous Smoot-Hawley trade war. It’s not just the waste, such as the $88.6 million for new construction for Milwaukee Public Schools, which, reports the Milwaukee Journal Sentinel, have shrinking enrollment, 15 vacant schools and, quite logically, no plans for new construction.

It’s the essential fraud of rushing through a bill in which the normal rules (committee hearings, finding revenue to pay for the programs) are suspended on the grounds that a national emergency requires an immediate job-creating stimulus — and then throwing into it hundreds of billions that have nothing to do with stimulus, that Congress’s own budget office says won’t be spent until 2011 and beyond, and that are little more than the back-scratching, special-interest, lobby-driven parochialism that Obama came to Washington to abolish. He said.

More here from McCain this week:

On Friday morning, McCain fought back. 

“The whole point, Mr. President, is to enact tax cuts and spending measures that truly stimulate the economy,” McCain said. “There are billions and tens of billions of dollars in this bill which will have no effect within three, four, five or more years, or ever. Or ever.” 

Its payback time for liberal special interests. They are at the trough gobbling as fast as they can before the treasury runs dry. Americans are getting $500 dollars, and the responsibility to pay back $3,000 or more later for the pleasure of the $500. We are being robbed.

Americans are expecting economic help, what is winding through the corrupt and elitist halls of Congress is a wish list of liberal policies that will not touch the economy for months or years to come. It turns out that the great emergency is (a) to appear to look like DC is doing something and (b) hide as many failed liberal policies inside the pork as possible before anyone notices.

But we are noticing, which is why support for the bill is crashing – and will continue to crash when it fails to stimulate anything but a serious and well deserved backlash:

Vice President Joe Biden acknowledged today that Democrats could face political repercussions in 2010 for their support of the $900 billion economic stimulus package.

“If we do everything right, if we do it with absolute certainty, there’s still a 30% chance we’re going to get it wrong,” was his message at the meeting.

OK, now let’s take off the rose colored Biden glasses and assume they do it wrong (as they have wont to do). Then there is real chance they will make things much worse through failure. Right now we have a confidence problem. If we line up all this money and nothing happens we have sold the ranch – we have no more reserves! We can only stop things and redirect money.

The liberals have already taken off the table real stimulus ideas like tax cuts. They will refuse to admit they were wrong. They would endure panic and meltdown before admitting this bill is a joke and never had a chance of fixing our economy. They think in terms of their self image, not what works or doesn’t.

It is now being reported that the bill may not produce a single new job!

The goal of the bill is to save or create up to 4 million jobs over the next two years, helping to offset the loss of 3.6 million jobs since December 2007, when the nation began its descent into what economists predict will be the worst recession since the Great Depression.

Emphasis mine. They moved the goal posts. Now they could meet the intent of the bill by just not losing more jobs (which may be happening anyway). These are weasel words. These are words meant to lay the ground for future wiggle room. If you create one new job you have technically helped ‘offset’ the 3.6 million lost.

Those jobs were lost because liberal policy failures on mortgages wiped out so much wealth in this country everyone stopped spending their money, which put companies out of business or shrank them considerably.

So what is the answer to massively destructive liberal policies which made a few elitist filthy rich and destroyed our economy? More destructive liberal policies to line the pockets of a few more liberal elitists as they drain the treasury and our wallets for the next 50 years – because that is how long it could take us to work our way out of all this.

If I were a sane conservative I wouldn’t want my name anywhere near this one.

One response so far

One Response to ““Stimulus” Bill A Cruel Joke On America”

  1. MerlinOS2 says:

    CBO predicts a 60 billion or so loss of GDP for one year only

    See Table B-2 of the pdf

    That’s out of a GDP of 14,224 Billion or a 1.9% drop but the out years show normal to good growth.

    And for this we need a trillion dollar gotta have it fix??????