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Obama Not Cutting It On The Economy
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| Contributor | Jason |
| Last Edited | Jason Dec 10, 2009 04:02am |
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| Category | Commentary |
| Author | Dan Gerstein |
| News Date | Wednesday, December 9, 2009 10:00:00 AM UTC0:0 |
| Description | Much like Wednesday was once Prince Spaghetti Day, Tuesday is fast becoming political juggling day for the Obama administration. In his Afghanistan speech last week, the president struggled to keep his dueling objectives (surging but not staying) in the air without crashing into each other. In Tuesday's speech re-setting his economic policy, the president similarly strained to sate the left's demands for more spending on job creation to deal with the unnerving unemployment numbers and the center's demands for more fiscal restraint to deal with the exploding debt.
By typical Washington standards, the economic balancing act was executed more deftly. Unlike the confusing Afghanistan policy announcement, Obama's new jobs plan offered a politically appealing, easy-to-understand solution to the budgetary box we're now in: Tap the TARP. We can have our cake and spend it too, the president and his staff explainers suggested, by using leftover or returned bank bailout money to bail out the middle class with a series of targeted, short-term incentives to increase hiring. Deficit neutral, populist popular--what's not to like? |
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