To counteract his rapidly declining job-approval ratings, Obama has frantically started pushing a second spending package. This time he won't call the bill a stimulus package or say where the spending will go. Obama and his press secretary are now selling it as a package of "targeted ideas that will have a positive effect on private hiring." Americans know big government spending plans don't work. Obama is in a sticky predicament, and rather than openly running on his unpopular ideas, he is attempting to deceive the American people with new names for failed policies.
One of the unreported results of the original stimulus package is that it has wreaked havoc on state government budgets. It earmarked $200 billion in bailout cash to help balance state budgets. This policy is akin to giving an alcoholic a year's supply of beer money. Yet, here we are a year later, and the combined deficit for states has reached a staggering $260 billion. Rather than using federal dollars to repair their balance sheets, states used the money to fund temporary fixes. Now these states are hooked like a drug addict and begging for another quick fix from Obama. If Obama bails these states out again, he will prolong the waste and forestall necessary reforms.
Obama is so preoccupied lobbying for his health care bill; he is neglecting to focus on job creation. Nebraska Sen. Ben Nelson, who has supported Obama's healthcare bill to the scorn of his constituents, has even expressed, "I think it was a mistake to take health care on as opposed to continuing to spend the time on the economy."
As Obama considers this new spending package, which increases the debt burden, he is ignoring the advice of the U.S. Chamber of Commerce. Remember, this year Bush's growth-promoting tax cuts are set to expire. The Chamber says if Obama allows the tax cuts to expire, then he will be setting up the stage for a double-dip recession. Obama is already stressing a weak economy.
If Obama wants to create jobs and improve the economy, he needs to create a stable and secure environment for companies. If Obama doesn't realize the folly of his policies soon, his party will rightly deserve a strong rebuke from the American people in this November's elections.
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