Professor Samuelson puts one more nail in "the fairy tale's" casket:
"The program crafted by Obama and the Democratic Congress wasn't engineered to maximize its economic impact.
It was mostly a political exercise, designed to claim credit for any recovery, shower benefits on favored constituencies and signal support for fashionable causes." (Robert Samuelson)
Today, Pres BO got more bad news:
"The White House is being forced to acknowledge the wide gap between its once-upbeat predictions about the economy and today's bleak landscape." (AP)
What does it all mean?
First, the stimulus is not stimulating. In fact, it is having the exact opposite result.
Second, the federal budget deficit will be even bigger than we thought.
Wonder why BO is delaying the release of the new budget figures?
"It usually doesn't happen this quickly in Washington.
But President Barack Obama and congressional Democrats are finding that the old maxim that what goes around, comes around applies to them, too."
Don't blame me: I opposed the stimulus and voted for McCain!
