Monday, November 23, 2009
Too little, too late
His Shrillness is warning of another failure of courage by the Obama administration. Having failed to put through an adequate stimulus the first time, thanks in no small part to too many "bipartisan" tax cuts, Obama now sounds like a Wall St Republican in his worry about the deficit.
"OK, who left the yellow underwear in the President's closet?"
Most economists I talk to believe that the big risk to recovery comes from the inadequacy of government efforts: the stimulus was too small, and it will fade out next year, while high unemployment is undermining both consumer and business confidence.Dr. Paul suggests a few reasons, but in the end it all boils down to a lack of courage in the White House, again.
Now, it’s politically difficult for the Obama administration to enact a full-scale second stimulus. Still, he should be trying to push through as much aid to the economy as possible. And remember, Mr. Obama has the bully pulpit; it’s his job to persuade America to do what needs to be done.
Instead, however, Mr. Obama is lending his voice to those who say that we can’t create more jobs. And a report on Politico.com suggests that deficit reduction, not job creation, will be the centerpiece of his first State of the Union address. What happened?
"OK, who left the yellow underwear in the President's closet?"
Subscribe to Posts [Atom]
Post a Comment