So, the Congressional Budgeting Office (CBO), which is non-partisan mind you, actually reported that O’s stimu-less package, while helping a bit in the short term, will actually HURT – that’s right, HURT – the U.S. economy more than if nothing were done at all. Here are two interesting reads:
CBO: Obama Stimulus Harmful Over Long Haul (Washington Times)
CBO’s Estimates of the Effects of the Senate’s Version of Stimulus (Environmental Economics)
This leads us to wonder, what the ultimate purpose of the stimu-less package is. Now, any president should surround himself with wise counsel, particularly in the form of economists, when proposing to interfere with function of market economics. Is O aware of the fact that he is only going to get a short-term boost at the expense of long-run growth? My guess is ‘yes.’ But, my guess is also that O doesn’t really care about the long term. Why?
Well, O doesn’t care about the long term because:
1) Americans are short-sighted and, as a whole, don’t tend to consider the long-term implications of current actions. This is the reason why, even though the stimu-less package will be an overwhelming burden on our children and grandchildren, most Americans aren’t even concerned; selfishly, they want what they want and they want it now, like a baby blinded by hunger. There used to be a time when Americans wanted their children and their children’s children to inherit a better lot than they had; now, they seem to have forgotten the generations yet to come and seem content to enslave their offspring to enormous, crippling debt.
2) Americans seem to have great difficulty piecing together the events of the past to see why and how we have arrived at our current circumstance. This trait will work in the favor of O and his liberal agenda because a simple political shell game will be enough to convince the public that somehow the faltering future economy of America is the fault of the right. O and his team will never be called to account for the long-term economic consequences of the stimu-less package because, by the time the effects are felt, he and his crew will be in other, greener fields, sowing their seeds of socialism.
In the meantime, Americans will be held ransom by the very politics of fear that O rallied against, but which he now uses to sell his socialism. We will be made to believe that even though we are a resilient people and our economic underpinnings are strong, we are on the precipice of economic disaster. We will cheer as the pork is served up to the masses in the name of stimu-less. The liberal socialist agenda will proceed at full throttle and we will call O our savior, even as his handiwork destroys the things that generations of Americans have bled and died for.