Mo money, mo’ money, mo money

Welcome to the Keynesian decade, if $800 billion in tax payer bucks won’t fix a problem throw some more at it. I’m talking of course about President Obama’s plan throw another $50 billion down the “shovel-ready” rathole;

The Obama administration will work with Congress to ensure the plan is fully funded, and a “significant portion of the new investments would be front-loaded in the first year,” the White House said in a statement.

In his speech, Obama said his proposed public-works spending “will not add to the deficit over time.”

The program will focus on long-term modernization of transportation systems and create jobs starting in 2011, an administration official said today. The White House will propose to pay for the new spending by eliminating tax deductions for oil and gas companies, the official said.

Yes, the same things we heard about the stimulus package they jammed down our throats last year. The same promises, word-for-word, and the program will miraculously create jobs next summer – after the elections. I heard predictions on the radio that Obama would propose tax cuts, I shook my head furiously, and some how I knew that Obama thinks we’re too stupid to remember that his spending policies aren’t working.

Obama defended a string of policies, from the Democratic health-care overhaul and Wall Street regulation to the remaking of the college student-loan business. “We’ve given tax cuts, but we’ve given them to folks who need them,” he said.

Who? Any employers out there get one I didn’t read about? He extended the house-buying tax credit – and as soon as it ended, the market declined. Any of you working-poor get a tax cut? Any of you working middleclass get tax cuts? We got that paltry ta cut last year – is that the one he’s talking about? The one that went away for retirees whose paychecks were lighter the first of the year because they got no COLA increase despite the rise in cost-of-living.

Obama said. “If I said the sky is blue, they’d say no. If I said fish live in the sea, they’d say no. They just think it’s better to score political points during an election than solve problems.”

He added, “We’ve tried what they’re peddling.”

Yeah, we’ve tried what he’s peddling, too. Promising more jobs if we keep throwing money we don’t have after money we didn’t have isn’t scoring political points during an election?

Category: Barack Obama/Joe Biden, Economy