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$800 billion worth of asphalt?
Monday, June 08, 2009
You can almost feel the Obama "honeymoon" coming to an end as an increasing number of people look at the enormous stimulus program and ask where all the money is going.
Have we already reached the point that this is now considered Obama's recession?
3 comments:
What, are you saying it's not worth a $1.3 million investment per $50,000/yr job to set unemployment back about a month?
Aw man, I almost held a straight face typing that there.
No, I don't think many people consider it Obama's recession. The recession itself moves too slowly and clearly extends back to Bush. But I do think Obama's support is getting shallower. By settling for patently wasteful and ineffective "middle ground" solutions, Obama has cut off what should be the most loyal and politically effective part of his base - people who pay attention and write letters and talk to people in congress.
The next big bad thing to come along will belong to him. The masses responding to popularity polls won't hesitate to turn on him, and his base of supporters (apologists?) will be as demoralized as I am.
As Peter Schiff said, it's not the recession we had to fear, it was the govn't reaction to it. It would be less depressing if the current administration and congress weren't doing everything they can to inhibit business activity and almost punish it here. The capital and jobs will obviously flow elsewhere in reaction.
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