So tomorrow night the president, now under intense pressure following the rising tide of Tea Party populism in America, will go before the nation and proudly declare a targeted "spending freeze".
Such a situation is proof positive that Obamanomics are not working. Recall during the campaign when Obama mocked John McCain for proposing a spending freeze. Now Obama finds himself, at least superficially, embracing the concept of more conservative fiscal policy.
This proposal by Obama though - even under his own White House best case scenario positive projections, show a savings of just $250 billion over ten years - or roughly $25 billion per year. In essence - a very small fraction of the overall federal budget. It should also be noted that the proposal will come AFTER Obama finishes up passage of an additional $150 billion "jobs bill" that is on top off the hundreds of billions still left unspent for his stimulus bill. Those two items alone account for nearly a trillion dollars in ADDITIONAL government spending - so $25 billion a year savings is NOTHING. Absolutely nothing.
It is akin to one proudly declaring they will not borrow $10 next year because you want to be more fiscally responsible - but then borrowing $1000 this year and hoping nobody notices the hypocrisy.
That being said, this superficial populism by Obama is an opportunity to elicit real fiscal conservatism from him in the not too distant future. Conservatives should endorse Obama's spending freeze - while pointing out they fall far short and offering up far more real and effective opportunities for spending controls. Require that Obama make the choice of fully supporting real conservative populism, are openly fighting it - as he has done since day one.
America's economy is facing an increasingly uncertain future that can only be salvaged by a vibrant and growing economy. Obama and the Democrat Party leadership are fighting such growth with policies intended to grow the government at the expense of the private sector. If this situation is not remedied, full on fiscal chaos will ensue.
Let Obama dip his toe into the populist waters, and then push him in.
Let's see if the guy knows how to swim...
Such a situation is proof positive that Obamanomics are not working. Recall during the campaign when Obama mocked John McCain for proposing a spending freeze. Now Obama finds himself, at least superficially, embracing the concept of more conservative fiscal policy.
This proposal by Obama though - even under his own White House best case scenario positive projections, show a savings of just $250 billion over ten years - or roughly $25 billion per year. In essence - a very small fraction of the overall federal budget. It should also be noted that the proposal will come AFTER Obama finishes up passage of an additional $150 billion "jobs bill" that is on top off the hundreds of billions still left unspent for his stimulus bill. Those two items alone account for nearly a trillion dollars in ADDITIONAL government spending - so $25 billion a year savings is NOTHING. Absolutely nothing.
It is akin to one proudly declaring they will not borrow $10 next year because you want to be more fiscally responsible - but then borrowing $1000 this year and hoping nobody notices the hypocrisy.
That being said, this superficial populism by Obama is an opportunity to elicit real fiscal conservatism from him in the not too distant future. Conservatives should endorse Obama's spending freeze - while pointing out they fall far short and offering up far more real and effective opportunities for spending controls. Require that Obama make the choice of fully supporting real conservative populism, are openly fighting it - as he has done since day one.
America's economy is facing an increasingly uncertain future that can only be salvaged by a vibrant and growing economy. Obama and the Democrat Party leadership are fighting such growth with policies intended to grow the government at the expense of the private sector. If this situation is not remedied, full on fiscal chaos will ensue.
Let Obama dip his toe into the populist waters, and then push him in.
Let's see if the guy knows how to swim...