How will spending three quarters of a trillion dollars fix the economy? No one had read the stimulus bill before it passed Congress, including the one who said it was absolutely necessary. “I feel such a sense of urgency about the recovery plan before Congress,” Obama wrote in the Washington Post on February 5th. It must be just the mere magic of saying we are going to spend that amount that fixes the economy. I am not being facetious. No one had read the bill when the House and Senate voted on and passed it, yet we were told over and over that if Obama wasn’t given nearly a trillion dollars to spend immediately, the country as we know it would be finished. “Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse,” Obama wrote. It sounded more like an extortion racket, especially since Obama actually does have the power to tank the economy just by saying what he had been saying about how it was the worst economy in our lifetime.
In addressing a question about whether his stimulus bill increasing the deficit by nearly a trillion dollars would actually help the economy or not, Obama responded with a political attack on Bush referring to the deficit he inherited from the previous administration without explaining why adding a trillion dollars to it was going to help anything. Shameful, considering Obama faithfully voted to increase that deficit while he was in the Senate. So much for the politics of “change.” What this tells us is how Obama plans to use the economy he talked down before his stimulus package passed: if the situation improves he will take credit for fixing it and cite government intervention as the solution; if it worsens, he has already laid the groundwork to blame Bush, capitalism and free market economics.
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