Cynical Synapse

Fri, 09 Sep 2011

Déjà Vu: Obama’s Jobs Plan is Just Stimulus 2.0

Filed under: Budget, Business, Congress, Economy, Employment, Government, Life, Politics, President, Stimulus — cynicalsynapse @ 5:00 pm

the new homeless

Déjà vu is the feeling of experiencing what’s going on now repeats some previous similar event or activity. President Obama’s jobs speech to Congress, in an 8 September 2011 joint sesssion, feels like that. Some other concepts that come to mind:

  • “Those that fail to learn from history, are doomed to repeat it.”
    Winston Churchill
  • “If you always do what you’ve always done, you’ll always get what you’ve always got.”
    Henry Ford
  • “Hope is not a method.”
    Gordon R. Sullivan
  • “You can’t have your cake and eat it too.”
    John Heywood

The size of Obama’s proposed $447 billion jobs bill is over half that of 2009’s stimulus bill. Like its predecessor, the jobs bill includes tax cuts designed to spur private sector jobs and give working class people more take-home pay so they can spend it and create a need for more workers. It also includes money for education and infrastructure projects, just like the stimulus bill. Counterintuitively, both the stimulus and jobs bills also called for extended unemployment benefits.

Pres. Obama makes his jobs bill speech

Obama urged Congress to pass his jobs bill, pointing out it includes proposals from both parties and will be fully paid for:

There should be nothing controversial about this piece of legislation. Everything in here is the kind of proposal that’s been supported by both Democrats and Republicans—including many who sit here tonight. And everything in this bill will be paid for. Everything.

With no plan for where the bill’s nearly a half trillion dollar cost will come from, Mr. Obama tasked the bipartisan deficit reduction supercommittee to pay for jobs on top of the deficit reduction they’re already charged with. Since unemployment is now 9.1%, compared to less than 8 (7.6%) prior to 2009’s stimulus package, why does anyone think “Stimulus Lite” will work? If they do, they’re part of the Chain of Fools (meaning no disrespect to Miss Aretha).
 

Previously on the stimulus bill:

Theme: Silver is the New Black. Get a free blog at WordPress.com

Follow

Get every new post delivered to your Inbox.

%d bloggers like this: