Still Clueless After All These Years
Still doesn't have a clue. This will fail and actually backfire given the impact on the deficit. I called the failure of the stimulus before the ink was dry, and I'm calling this one. Maybe we'll get lucky and the Dems in Congress will finally say, "You know, this is getting ridiculous" and put a stop to this idiocy.
UPDATE: Not just a dollar short, but a day late too. Maybe he should hold a "jobs summit!"
UPDATE: Not just a dollar short, but a day late too. Maybe he should hold a "jobs summit!"
posted by Donny Baseball at 2:28 PM
2 Comments:
This isn't a serious economic policy proposal. $50 billion over six years isn't enough to make a dent in the 9.6% unemployment rate. Its strictly a political ploy meant to offset the growing clammor from both sides of the aisle to extend the Bush tax rate cuts. Besides, there still over $50 billion from the original "stimulus" package designated for "shovel-ready" infrastructure projects that has yet to be spent.
Calling Obama clueless is an unwarranted act of charity.
Well, I'm just a chartiable kinda guy! It just dawned on me that this is doubly clueless - not only is it a clueless policy response, it is clueless politics. It looks too much like the "porkulus" which is universally regarded as a flop by all except Krugman and Stiglitz. Even if he was going to offer something ultimately meaningless if only to look like he's doing something - it ought not to look anything like the porkulus just given the optics. So D-U-M-B on both counts!
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