So Should Obama Veto the Stimulus?
Going by his own words in a recent address at GMU earlier this month, it would seem he has his veto pen ready first its first run...
"We have to make tough choices and smart investments today so that as the economy recovers, the deficit starts to come down. We cannot have a solid recovery if our people and our businesses don't have confidence that we're getting our fiscal house in order. That's why our goal is not to create a slew of new government programs, but a foundation for long-term economic growth.
"That also means an economic recovery plan that is free from earmarks and pet projects. I understand that every member of Congress has ideas on how to spend money. Many of these projects are worthy, and benefit local communities. But this emergency legislation must not be the vehicle for those aspirations. This must be a time when leaders in both parties put the urgent needs of our nation above our own narrow interests."
Well said, President Obama.
I assume that this means he'll throwing vetoes at the stimulus bill until it actually turns into something that can even pretend to do what its biggest proponents boast that it can do.
Well, I'm not holding my breath. I have the utmost respect for Obama's rhetorical skills here. He can easily say how the stimulus package that he signs does not go against that quote above. And the beauty is that he'll do it without even doing it if you listen closely enough.
Don't get me wrong. I think Obama's heart is the right place but the economic thinking that has his ear on this matter is very flawed and incredibly clumsy.