The New "New Deal"

With only days remaining until BHO, becomes the Supreme Leader of the "Free" world, he has unveiled his own version of a stimulus package designed to spend our way out of trouble. In a major economic speech at George Mason University on Thursday, he made it clear government is the only white knight out there to save the day.

But at this particular moment, only government can provide the short-term boost necessary to lift us from a recession this deep and severe. Only government can break the cycle that is crippling our economy...

The more than $775 Billion package will be loaded with options including tax cuts to appease the Republicans, green jobs that would have 75% of federal buildings and 2 million American homes (where will John Q public get the money to bring his home into compliance????) magically retrofitted or rebuilt to be environmentally friendly (remember ETHANOL?) , and "shovel ready" infrastructure projects that have mayors and governors getting in line with their hands out for money for museums, water parks and sporting venues (PORK).

This stimulus package will likely only be the FIRST of the Democratic Bailouts, and the cost that has been touted publicly is at the lower end of the estimate to allow it to G--R--O--W as it passes through the legislative process (or leave room for future salvos "if at first you don't suceed...."). This is drawing flack from Obama's own party. Tom Harken has voiced the need for more spending and less tax cuts. Harry Reid has said that he "doesn't work for Barack Obama" (RIIIIIGHT!) Outcries have also been heard from the likes of Barney Frank (king of the subprime mortgages), Carl Levin (socialist) and John Kerry (self-aggrandizing snob who has to weigh in on everything lest he lapse into deserved obscurity). Don't be fooled, however, this flack is needed to give the public perception of disharmony so that when a package is finally formulated, it will be looked at as a truly bipartisan package in a true Kumbaya moment with all credit to the Messiah.

The more important flack issue, to me, is the lack of flack from the Republican legislators. The likes of Leader Boehner ("I am excited to see the tax cuts" OMG you are falling for it from the outset!), Mitch McConnell and Tom Coburn (Obama has been "straight up" with them). I recall a Department Chairman that I once worked under who was notorious for having consensus building meetings with his faculty, allowing everyone to vent their feelings. He listened intently and then did whatever he wanted to do in the first place. When called to account for what he did, he always said, "You can't say that I didn't ask you." I fear that this is how Obama will govern....Beware the smooth wordsmithing and cool demeanor.

From February 2008 until February 2009 when Obama hopes to have crafted his own Bailout package we have been throwing money at the economy with reckless abandon and blame that falls on both sides of the aisle. Since February, 2008 we have spent $168B on the Bush stimulus package, $200B on the Freddie Mac and Fannie Mae bailout, $122.8 B for AIG (poor babies), $700B for the TARP mortgage and banking bailout (with $17.4B carved out for the auto industry and by extension the autoworkers union) and not to be undone, the biggest effort to date......>$775B in the yet to be drafted Obama plan for a GRAND TOTAL of >$1.9TRILLION (sorry there are too many zeroes to reckon with!) that will have been spent on bailing out varied and sundry things. With more pigs lining up at the trough in hope of catching some of the money to be thrown around.

Nancy Pelosi has proposed a deadline of President's day in February for getting this package crafted, drafted and sent to the new President for signature and enactment. She has also boldly stated that if there is no package by this time there will be NO RECESS!! I guess she has no Spring book tour this year....or did she learn her lesson from the #dontgo whipping she took in August 2008?????

Today on Meet the Depressed, David Gregory had a relatively one-sided round table discussion on the bailout. There were some very telling comments coming from former House Majority Whip Rep. David Bonoir who is a member of the Obama economic transition team. When asked about how to deal with the Bush tax cuts, he totally avoided that question. He did, however, say that we

"have to get hold of this inequality in wages and economy." He went on to say that in the past 20 years the top 10% of the wage earners took 90% of the income gains and this is "skewed the wrong way."

When asked where we need to end up, Bonoir indicated that we

"need to give people the opportunity to bargain collectively at the table. At 7% unionization in this country, you are not going to get the dispersion you need." He added, "We were successful in this country after the Second World War. The most profitable time for this country were the three decades after World War II because unionization was at 35%......The Employee Freedom of Choice Act ( think Card Check) is an important part of legislation supported by President-Elect Obama and Biden, Congress and 60% of the American people...This will help to share in the benefits and bounties of the country."

Later in the show, Bonoir predicted that the Stimulus package will pass and it would probably pass even without Republican support.

Come on Republicans, grow a pair and stand up for what WE believe in. Get vocal and EXPLAIN why the government can't fix this.

I close with a quote that many of you will agree with, but the source may be surprising.

We live in a time of transition, an uneasy era which is likely to endure.....During the period we may be tempted to abandon some of the time-honored principles and commitments which have been proven during the difficult times of past generations. We must never yield to this temptation. Our American values are not luxuries, but necessities - not the salt in our bread, but the bread itself.

Jimmy Carter, in his farewell address.