Diary

Obama Considering Stimulus II

Every Barack Obama comes with an expiration date. On February 9, Barack Obama said his stimulus package was the right size to get the economy moving again:

“It is the right size, it is the right scope. Broadly speaking it has the right priorities to create jobs that will jump-start our economy and transform it for the 21st century,” Obama said of the more than $800 billion bill at a rally in Elkhart, Indiana.

Yet today when he was asked about the possibility of a second stimulus bill, White House spokesman Robert Gibbs dodged the question – specifically not ruling it out:

What has changed in the last month? The liberal fringe of the Democratic party – perhaps best represented by Paul Krugman – has attacked Obama up and down for adopting a plan that didn’t spend enough. Matt Yglesias is harping on this point, as is Josh Marshall.

Here’s the question for them: how much would have been enough? It’s always easy to argue for ‘more,’ particularly when it’s the taxpayers footing the bill. As Flip Pidot illustrated, Obama’s stimulus bill was bigger than the Iraq War and the New Deal combined. How much do we need Washington to confiscate from us before the economy will turn around?

Obama’s economic plan has already failed. If he cannot live with the results of the first and most important of his legislative initiatives, it merely shows that he has realized it, too.