Go ahead, Mr. President. Mash the button.
Over the weekend, the White House has floated not one, not two, but three proposals to jump start the economy and save Democrats’ sinking hopes of retaining Congressional majorities in the 2010 elections this November.
On the table are a $50 billion
infrastructure investment pork barrel initiative, a $100 billion extension of a tax credit for business research and development and a brand new $200 billion tax break for businesses to invest in plant and equipment.
The leaks of a flurry of Obama proposals in just the last 36 hours show just how anxious White House officials are to show the president is on top of trying to rescue the still-faltering economy at a time when Democrats strategists are privately starting to panic that their majorities in both the House and Senate may now be up for grabs.
Altogether, the three new Obama proposals add up to $350 billion, which is starting to creep up to nearly half the size of the $787 billion stimulus plan the president pushed through Congress in the first 100 days of his administration.
A package of that size could call into question the insistence of top White House aides that they are not putting together a "second stimulus" package. The packaging of the proposals carries great political weight because if the new plan is seen as a new stimulus program it could give Republicans new ammunition that the first plan did not work as well as advertised.
Too little, too late and why would the White House be in such a
generous panicky mood?
It’s often said that the public really doesn’t pay attention to an election until after Labor Day. Well, Labor Day has come and gone and the Democrats are in full blown panic, because it seems the public has been paying attention to this election since… March.
The American public has absolutely no appetite for this anymore. The government is incapable of spending the economy back into shape, and the public sees it. That’s why the Democrats’ poll numbers are in historically low territory, and why the coming election will be more “tsunami” than wave.