While the Obama administration and Democrats in Congress keep upping the ante on the new stimulus package, the Congressional Budget Office thinks the entire exercise is pointless. Their new report states that at least half of the money will come too late to have any effect on the recession.***Barack Obama's campaign is over, now comes the governing part. What will he do now that he's not on the campaign trail, speaking to one interest group after another? He has to make decisions. WSJ on his inaugural speech:
Mr. Obama's first principles were harder to discern. He acknowledged that the power of the market "to generate wealth and expand freedom is unmatched," while warning it can also "spin out of control." He added that "the question we ask today is not whether our government is too big or too small, but whether it works," and said that where it doesn't, "programs will end." This all sounds like traditional American pragmatism. But his use of the passive voice is revealing -- no government program ever ended of its own accord, and ending them takes political will. He is of course also proposing the largest expansion of entitlements in two generations (see here).The American people have made their choice of president--now it's time for Barack Obama to make his choices, and let's hope they are responsible ones. Will the future of the young people who elected him be crushed with debt?
As Democrat Give 'Em Hell Harry Truman said, the buck stops here. That's why he's one of the greats.
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