Tuesday, July 7, 2009

Priming the pump for more deficit spending

Here it comes

WASHINGTON -- A top House Democrat said Tuesday lawmakers need to be open to the possibility of the need for further economic-stimulus spending by the federal government.

House Majority Leader Steny Hoyer said it was too early to judge whether the $787 billion economic-stimulus package agreed to in February has been a success, but he said more government intervention in the economy may be necessary.

"We need to be open to whether or not we need additional action," Mr. Hoyer said in a weekly press briefing.

This week, Vice President Joe Biden suggested in a television interview that a second stimulus package may be required to bring the U.S. economy out of the worst economic recession since the second world war.

Um, it is not really too early to tell. I could have told you before the bill was signed that the stimulus bill was never going to stimulate the economy. All it did was add an enormous amount of debt and increase the size and scope of the government. All of that will be used as an excuse to later raise taxes and in doing so crush the private sector economy further which is turn makes everyone more dependent on government, and on and on it goes.

You can see the beginnings of what will be the inevitable push for yet another stimulus package. First Biden and now Steny Hoyer. Notice that the second string is starting the conversation, leaving President Obama and Speaker Pelosi with their hands clean while their proxies take the heat. As their surrogates start making offhanded comments like this aided by their willing accomplices in the media, people will start to become resigned to the idea. As the buzz grows for more stimulus, as unemployment tops 10% nationally and with no end in sight, President Obama will give us one of his teleprompter specials to tell us how he really wants to cut the deficit but “doing nothing will cost more than another stimulus”. With a filibuster proof senate majority and a leaderless GOP, another stimulus bill is sure to pass and just as assuredly it will mean nothing more than a bigger national debt, a bigger Federal government and a populace more dependent on the government for basic services.

It makes perfect sense for Beltway bureaucrats and career politicians. If you spend a bunch of money and your effort is a failure, the problem is not in what you were trying to accomplish, the problem is not spending enough (see: Schools, Public). Even in my worst nightmares I didn’t figure Obama would be able to cause this much damage this quickly. We already have trillions in unfunded liabilities with no way to pay for them and now we are looking at adding even more debt and potentially a massive takeover of the health care system, also with no way to pay for it.

Welcome to life in the Obamanation!
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