An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Monday, January 26, 2009
Obama Woos Republicans on Stimulus, Seeking Longer-Term Support
This is another example of Obama's weak leadership by consensus. He won the election by a huge margin; Democrats control Congress. He has a mandate. Yet he prefers to build bipartisan support when he doesn't need it and when the Republicans' policies were totally repudiated by the voters.
Any "support" he garners from Republicans now will be fleeting. They will abandon him and blame him, first chance they get. It is a huge political mistake and it makes Americans suffer longer for no reason, particularly all those who voted for him. This is hard to understand. It can only be explained as insecurity on his part, which is a dangerous thing for the country. Other world leaders who are not America's friends might pick up on this and try to test how far he is willing to go.
Read article here.
Hopefully the Republicans won't give Obama support. You should not be throwing out the GOP with the bathwater. One cannot lay down for a flawed stimulus package just because you like some of the provisions -- better to fix the flaws and enact something sensible. The stimulus needs more tax-cuts. Obama is talking about doubling capital gains (stupid), and raising taxes on corporations(equally stupid). Eliminate the payroll tax for now. And do not socialize medicine -- we have the best in the world for a reason. There are other ways to help the poor.
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