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One Trick Pony February 9, 2009

Posted by neoavatara in Economy, Politics.
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In all likelihood, the Obama Economic Stimulus Plan will be passed, reconciled, and signed by the end of the week.  And although some spending has been removed (estimated at around $100 Billion, though new spending was added as well), largely this bill is the same as the one passed by Congress a week ago.

I really hope this works.  I really do.  I know many of you think I am a complete idealogue, only supporting my party.  That is not the case.  I hope I am wrong, and the stimulus plan works.  Because Obama’s failure, despite everything, would also be our nation’s failure.

That said, I have no idea what plan B would be if this doesn’t work.  This is a Hail Mary; there really isn’t a second try.  This isn’t the Japanese plans of the nineties, where they trickled money in slowly.  This is the nuclear bomb version of stimulus plans.  And if this doesn’t, at the very least, stabilize the economy, then what next?  This plan will add trillions to the deficit over the next two years.  There will be no more money to be spent.  Now, if it works and the job losses and recessionary pressures reverse, then it will  have succeeded.  I don’t even think it has to meet Mr. Obama’s ‘4 million jobs created’ goal to be considered a success.  But if it doesn’t slow the recession, there is no where else to go.

So we all have to hope this works.  Because if it doesn’t, catastrophe may be the accurate vote of the day.