Seven hundred and some odd pages of a raid on the US Treasury from which America can not possibly dig out for a very, very long time. And many of the potential long-term consequences for the nation are disastrous. Much of it is being done purely to avoid the normal budgeting process through which it likely would not survive.
Our government is fiscally out of control at this point in time.
Fausta calls it a disaster and offers some links from a conference call with Senator Sessions.
This earlier post of mine does as well.
That one of mine is currently featured under Best of the blogs at Real Clear Politics.
A thanks to them for that. RCP is always a site you want check out to stay up on some of the best political media and blog punditry and news on the web. Hell, Michael Barone has praised it as a must read. And I wouldn't argue with Barone on much of anything when it comes to political analysis.
Yes, cleaning up the republicans messes always takes a lot of money.
Posted by: BARRASSO | Monday, February 02, 2009 at 08:37 PM
by 'cleaning up' you must be referring to wiping the asses of unions with taxpayer money. I'm sorry the gop didn't change their diapers.
Posted by: mark l. | Monday, February 02, 2009 at 09:01 PM
while plugging rcp, worth noting two other links you'll find there...
their polling section has a link to rassmussen reports. Scott rassmussen has been the best pollster over the past eight years. There is no better pollster. Really good stuff on current topics.
a timely section, that hasn't garnered as much attention,
http://www.realclearmarkets.com/
similar format to the rcp page, where conflicting economic editorials are given equal footing.
If you want political reporters giving you the news on economic matters, stay away. If you want people with credibility in discussing the economy,(sorry WaPo, NYT, msnbc, et al) then this is the place you want to go to.
Posted by: mark l. | Monday, February 02, 2009 at 10:34 PM
Pat Buchanan:
"Has Obama no more imaginative ideas for government's role in reshaping the economy for the 21st century than this? Was it all talk all along, to prepare the way for a return to the days of spend and spend?
Sad, because this is likely to be Obama's last shot at getting this economy on its feet and running by 2010. For Americans are not as patient as they were in the 1930s, when FDR could try one idea, then another, then another for five years, and continue to roll up massive electoral victories.
If Obama gets this one wrong, and all this pork and welfare fail to generate real growth, his party could face a wipeout in 2010, and his opportunity could be lost forever. Does he really want to bet the farm on the nag Nancy Pelosi just trotted out of the House?"
http://www.realclearpolitics.com/articles/2009/02/nancy_pelosis_new_deal.html
Pat is dead on right. The current 'stimulus' is plowing the fields for a healthy harvest of inflation. At best Obama can time the recovery to fall before the midterms/2010, but the backside of this recovery, based on spending, is going to be rampant inflation. I doubt there will be a financial player left that can afford OR is willing to buy more of our treasury notes.
Posted by: mark l. | Tuesday, February 03, 2009 at 12:10 AM
America is finished as a great power, much less a superpower.
In the next few years I see nothing but crippling hyperinflation, economic depression spanning 10-20 years, and a sharp increase in class stratification as our GINI index becomes much more like Africa than Scandinavia.
We missed our chance by electing paleo-conservatives who could have reversed the excesses of the Bush years without turning to socialism.
Posted by: seekeronos | Tuesday, February 03, 2009 at 09:55 AM
Hello, Now that the Liberals have started us on the road to socializm where is the Bill posted on line so we Americans can read it?????? Where is the transparacey
Posted by: aj luckenbaugh | Wednesday, February 18, 2009 at 12:19 PM