Thursday, February 12, 2009

I won...

President Obama squandered some of his political capital by letting Nancy Pelosi and Harry Reid write the stimulus package.

You would expect a stimulus package to at least spend 60 to 70% of the money in the next 18 months to get the economy going again. Instead only 15% of this 790 million dollar package will be spent in the next 18 months. The Democratic party basically used the stimulus package as a cover to implement all the spending programs they've been wanting for years, items that should have been debated in the regular government budget. This stimulus package includes many new "programs". The stimulus package should not have been used to start new government programs and agencies. That's for public debate weighted with can we afford it.

When the Republicans questioned the specific details of the package, President Obama didn't respond with counter arguments on the items he just said "I won" and you didn't. Nancy Pelosi said "we won. we wrote the stimulus package". The public is uneasy with this package as polls show falling support for it and increasing concern.

President Obama has created an excellent economic advisory team. He should have worked with them to develop ideas for the stimulus plan instead of letting Nancy and Harry write whatever they wanted.

If President Obama doesn't separate himself from Nancy Pelosi and Harry Reids' ideas, he may find himself facing a Republican controlled congress in two years. Nancy Pelosi and Harry Reid have led the congress over the last two years to public approval ratings lower than those of President Bush. Now they're helping President Obama with his.

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