Obama Is Insanity Defined

by Sal on December 9, 2009

in Economy,Politics

A classic definition of insanity is repeating the same action over and over again, expecting different results.  Obama is insanity defined.  His much-touted stimulus (a.k.a. Porkulus) package purported to spend money on roads and bridges, give some tax breaks to small businesses (although they were tax breaks designed to produce a liberal policy objective, not to stimulate business), and provide incentives for environmental compliance.  Since Obama apparently doesn’t know how to write his own legislation, he left it up to Congress which ended up producing the $787 billion pork-laden monstrosity that has done such a good job.

Now that the stimulus has proven to be an abject failure, and Democrats are worried that presiding over the worst economy in 30 years will be bad for their job security, want a new jobs package.  What does Obama propose?  Essentially, more of the same.  A program to spend more money on roads and bridges, give tax credits to small businesses, and tax incentives to people to make their home more energy-efficient.  Yet history has shown time and time again that spending programs such as this do little to stimulate long-term growth in the economy.  In an era when our budget deficits are at record highs, introducing more spending that will have no positive effect on the economy is the last thing we should be doing.

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