As the Trillion Dollar Man rides down the road in his million dollar bus passing by signs that say “Your Stimulus Dollars at Work,” the outlines of Obama’s presidential reelection campaign have already become apparent.
Spend. More. Money.
Practically every big government program that Obama has tried has failed to deliver the results that the president’s economic team projected.
As Obama said: Those shovel ready projects included in the stimulus spending binge weren’t quite as shovel ready as they thought. Or as his critics have said: If they were shovel ready, it was only because they were so rotten they needed to be buried quickly.
Taking their cues from the mid-term election that saw Obama’s team lose control of the House on dissatisfaction with the growth of government, they slimmed down, huddled up and came out with a new plan.
Ready for it?
More government, bigger spending, more entitlements.
While some Democrats will certainly welcome the president’s new, improved, same, old plan, I guarantee that Obama will have a harder time selling many Democrats up for reelection on this strategy than he had on selling tax increases to Speaker John Boehner.
Last week as reported on Townhall Finance, Hotair, the Blaze and elsewhere, White House spokesman Jay Carney mixed it up with a Wall Street Journal reporter by cunningly insisting that unemployment insurance benefits create jobs.
"There are few other ways that can directly put money into the economy than applying unemployment insurance," Carney said.
And since unemployment benefits are an insurance program where the cost is passed along to the employer, there are few ways to more effectively raise taxes on employers either, thereby taking the money right back out of the economy; in fact right back out of the pool that funds private job creation.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for August 21st, 2014 | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for August 18th, 2014 | John Ransom