Two for the Price of One Equals None

One cannot but respect President Obama for heeding his inner voice, come what may. It may be disastrous politics and cost the Democrats and the country dearly, but people claim that they want a public leader who does not mind the public opinion polls. Well they got one, with a vengeance.

One of Obama's core ideas was and is that he can get two for the price of one. Thus, in composing the original stimulus bill he did not go for those outlays that would stimulate the economy most quickly and those that would create most jobs -- but for projects that would make us better in the long run, as well as have some stimulating effect. For instance, fixing the infrastructure. For example, increasing the expenditure on research. And making the economy greener.

Here he goes again. Having finally decided -- better late than never -- that the country needs more stimulus, he goes again for the long run: more money for infrastructure projects that take years to get rolling and generate relatively few jobs but that the country surely needs. And more investment in research and development, which takes even longer to pay off, but pays off handsomely when it finally kicks in.

Nor does the president give up on his notion that he can get the GOP to play ball. Thus, the new proposals call for tax deductions for corporations, despite the fact that businesses have already found numerous ways to evade paying most taxes due, in the vain hope that this could maybe, possibly -- this time -- win the GOP support. Providing funds for those unemployed to enroll in community colleges for retraining and hiring them to carry out public jobs (via the states) would not face much more GOP opposition but would have gone a much longer way toward reducing unemployment.

In short, in this case at least the vox populi has it right. These tax cuts will not do much of anything. We may hence salute our president's integrity and cry for those without work, their families, and all those who would have more work and income if the economy did not continue to be in such an anemic state. Cry for America.

 

Comments

[Nosybear]

02:21 PM on 09/13/2010

Stimulus needs to fulfill two functions, the first (and perhaps least important of which) is to create jobs. The most important function of stimulus is to invest for the next up-cycle. We need roads, railroads, high-speed broadband, any number of infrastructure programs that will bring us much more than padding a bank CEO's quarterly report. I remain doubtful that the GOPers will allow it to pass because it will do good, put Americans to work and lower the level of fear they feed on.

[warren danzig]

02:13 PM on 09/13/2010

I have to agree with this post. Obama doesn't care about us. That is the sum total of his policies. It stings to find out that the most liberal president ever elected hasn't done anything to bring down unemployment. We have been told repeatedly that Obama is soooo smart. Well to me a smart person changes course when they are lost. We should have elected Hillary, at least a woman will stop and ask for directions when she is lost. We have heard way too much about the color of Obama skin and not enough about how thin it is. He needs to man up and admit his policies are not working for the unemployed. That was one of the most annoying qualities of Bush, the refusal to admit a mistake. Well in this department Obama is Bush on steroids. If he ever wonders why so many people question his "americaness" he need look no farther that the fact that he doesn't care about the unemployed, not even the african american unempolyed. The people think that if he was a "real" american, he would care about them, especially when they are in such dire straits.