Dan Gainor

It’s just Stimulus II (or III or IV) by another name. The classic lefty recipe of growing government to make even more voters reliant on Democratic politicians for their payday. Imagine Chicago corruption and patronage on a national scale and you have it. Even worse, the October TARP extension is a blatant abuse of a government program to try and help get Democrats elected in the election that occurs two days after the program’s extension ends.

It’s a move that will appeal directly to Obama’s remaining base – hardcore lefties and the media. MSNBC’s Matthews represents a lot of both. On the Dec. 6, “Chris Matthews Show,” he made it clear he wanted to see more government spending and more government jobs. People “want to see those hardhats,” he explained. Time magazine’s Michael Duffy predicted a similar big government approach to hiring, saying “it'll be cops, teachers and more roads.”

Construction workers and policemen. Throw in an Indian, a biker and a cowboy and the Obama strategy is to resurrect the Village People on a national scale. That’s not a national solution, it’s a punch line.

Still, NBC’s Savannah Guthrie went out of her way to make Obama’s move look believable, saying he was taking a “somber tone” and he felt our pain like Bill Clinton before him. As she put it, the president was “taking pains to demonstrate he feels the pain of the unemployed.”

No, if he did, he wouldn’t be spending another $150 billion to “throw more money at the problem” in the words of Katie Couric.

The question remains: How are we going to pay for this? The U.S. spent $292 billion more than it brought in during just the first two months of fiscal 2010. At that pace, we’ll come close to a $2-trillion deficit just for one fiscal year.

Obama’s solution is more government jobs, because that’s worked so well so far. Ed Yardeni, president of Yardeni Research, Inc., calculated the jobs Stimulus I has created cost $246,436 each.

So Obama is singing the same old tune. If we sing along, we’ll certainly end up living in the Allentown of the 1980s.

Dan Gainor

Dan Gainor is The Boone Pickens Free Market Fellow and director of the Media Research Center’s Business & Media Institute.