Obama’s Biggest Mistake


Pushing through a giant healthcare package the majority of Americans didn’t want is one thing, but wasting a once in multiple generations chance at crafting a great stimulus package is as bad or worse.  Think about this.  Barack Obama had all the political capital needed to spend nearly a trillion dollars on a stimulus.  For that money, did we get a new Tennessee Valley Authority, a new power grid, a series of new nuclear power plants, a change in transportation infrastructure as radical and impressive as the interstate highway system?

No.

We didn’t get any of that from the largest short term spending package in American history.

Instead, what we got was a huge, unwieldy set of pork barrel projects with no coherent theme to hold it together.  It reminds me of the old Super Bowl Commercial where the crowd of monkeys celebrate blowing several million dollars in a nearly meaningless brand endorsement.

The White House must be held accountable for this error.  Every Republican candidate should be harping on just how unconscionable the stimulus was.

Keynes famously noted that the government could stimulate the economy by dropping money out of helicopters.

Our president and his liberal Congress seem very nearly to have taken the idea to heart.



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2 Comments Leave a comment

This is another point that should be made often

ywhyvon1 Tuesday, September 7th at 9:22PM EST (link)

We all know the stimulus didn’t work, and this is the why of it.

It was all unconnected. Just thrown to the wind(from a helicopter)

We got Bupkus

Socialist with fork looking for Socialist with pork pie-unknown

 

That was one of Obama's mistakes - the biggest one

izoneguy (Diary) Tuesday, September 7th at 9:45PM EST (link)

That was one of Obama’s mistakes – the biggest one is that he ran for President too early. Imagine now if McCain was President and the economy was floundering. The Congress would have been re-enforced with socialists and an Obama run & win in 2012 would have really closed the door on capitalism. In a twisted sense it is just desserts to Obama & the left that their dreams of a socialist takeover was ill-timed and ill-conceived.

The point cannot be made often enough: Modern liberalism, as embodied in the Obama presidency, is the defender of the status quo. And the status quo is a road to economic ruin. Political forces cannot redistribute the wealth that the economic system does not produce.