The Dems finally have a chance to govern and pass each and every one of their 40 year old dreams.
This is their Dear Santa moment! I guess that's what happens when you have a majority in both houses.
Unfortunately, Santa is out of toys!
They passed something today. However, they've put themselves in a sorry position where they can't do anything else.
What's my prediction?
We will have a sluggish economy and a trillion dollar deficit (8 or 9% of GDP) by the summer of 2010.
Here is the problem: We have huge pending items and two wars to fight!
What happens when the auto workers' union comes to The White House for the industry bailout?
What about the talk that some banks may need cash injections?
What about the talk of states going under? California gave Obama a huge popular vote victory. Unfortunately, Tax Refunds Now on Hold in California!
We will see Dems freaking out very soon! They have to govern but there is no money to govern!
They waited so long to pass their agenda. However, they will freak out because there is no money to do anything. No health care, no college loans, no nothing!
And they can't do any more stimulus, i.e. spend money that we don't have!
Memo to Republicans: Let the Dems freak out.
Memo # 2: Enjoy watching the Dems freaking out.
The WSJ editorial today is worth reading.
"The 647-page, $825 billion House legislation is being sold as an economic "stimulus," but now that Democrats have finally released the details we understand Rahm's point much better.
This is a political wonder that manages to spend money on just about every pent-up Democratic proposal of the last 40 years."
The editorial gets better:
"As Speaker Nancy Pelosi put it, "We won the election. We wrote the bill."
So they did.
Republicans should let them take all of the credit."
The Speaker is right. Let them own every dime of this bill.
The Dems have written a "Dear Santa" letter.
Yes, there is no Santa! However, there are lots of suckers in the Dem party!
