Politics of Stimulus

I have been laid low by this year’s very heavy concentration of mountain cedar pollen in the air. Getting through the day has been my major achievement for the last few weeks. So my writing has been reduced to almost nil, including this blog.  My allergist gave me a cortisone injection last week, so I am feeling a bit better.

As I have been feeling better, my brain has started to focus again on politics. I find it amazing that President Obama, who won overwhelmingly in November, is having the problems that he is having getting his so called stimulus bill through his very heavily Democratic Congress.

This morning as I was reading the paper I came across an open letter from a large number of prominent economists coming out against the so called stimulus bill.  If anyone would like to read it, go to http://www.cato.org/fiscalreality

Why is the bill having so much trouble passing? I suspect that it is because the country no longer believes that Lord Keynes has the answers any more.

According to Scott Rasmussen’s polling data, 62% of those surveyed want the bill to have more tax cuts and less spending. http://www.rasmussenreports.com/public_content/politics/obama_administration/february_2009/62_want_stimulus_plan_to_have_more_tax_cuts_less_spending

Similarly, 48% of the respondents surveyed in another poll say that increased government spending will hurt the economy.  http://www.rasmussenreports.com/public_content/business/economic_stimulus_package/48_say_increased_government_spending_hurts_economy

It would appear that the public is skeptical that throwing money willy-nilly at a soft economy is perceived as the panacea that the Obama administration claims that it will be.

It appears from these numbers that if President Obama puts his popularity on the line to have the bill pass, he–not President George W. Bush–is going to own the outcome–good or bad.

Politics is a fascinating endeavor, is it not?