Larry Kudlow notes that the $1,100,000,000,000.00 or so in the Obama-Pelosi-Reid “Yeeehaw! There’s Another Dollar to Spend” Bankrupt-the-22nd-Century-Too “Stimulus” bill, there’s as much as $2,000,000,000,000.00 more in the works:
And in what may prove to be the biggest stimulus-package hurdle of all, news reports suggest that Team Obama is contemplating as much as $2 trillion in TARP additions to rescue the banking system in one form or another. That would be $2 trillion on top of the nearly $1 trillion stimulus package.
When do you Democrats out there start to realize this is stupid and that it will cost you power for a generation once the full effects of this spending binge take hold? I mean, I don’t mind, in the long run – 30 or 40 years of uninterrupted GOP control and we might even get ten years or so of genuinely conservative government in there. But don’t you Democrats care about your own side? Or are you really convinced that this sort of spending will help?
Now, you can dump a lot of money into the economy and have a temporary, positive effect on it – just as FDR’s spending bonanza had its effect, most notably in bringing down unemployment – for a while – from more than 20% to around 15%. But the long-term costs of such irresponsible spending are disastrous, as noted by the fact that FDR’s spending bonanza never got us out of the Depression. I was discussing this a bit on Thursday with Nevada Pundit and he pointed out that a very large amount of the spending is scheduled to hit the economy in 2010, just in time for the mid-terms – such a thing might help Democrats limit losses, but is this what you Democrats really want? To just struggle on year after year hoping you can pull and electoral rabbit out of your hat?
Outside of the purely political considerations, in the course of my day job I had a conversation with one of our customers who actually broke down crying with frustration over his growing poverty. This is the guy we need to help, friends, not bankers, union bosses and favored Democrat special interests. Passing this trillion dollar boondoggle – with promises of more to come – isn’t going to help the people make ends meet over the next six to nine months…and spending all that money ensures that in years to come the economy will be much smaller than it otherwise would have been with proper fiscal management.
Its time to start thinking, people; don’t react to talking points or a glitzy presser…actually think about what Obama and his Democrats are doing.
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