Senator Tom Coburn, who worked together with the president on legislation when the latter was in the Senate, offers perhaps the best criticism to date of the so-called stimulus:
As a nation, we got into this mess by spending and investing money that didn’t exist. We won’t get out of it by doing more of the same.
Yet this is precisely what this bill proposes we do. Less than 10% of the bill could be considered true stimulus, if one assumes tax credits and infrastructure spending will jolt the economy. The other 90% of the bill represents one of the most egregious acts of generational theft in our nation’s history, with taxpayer money going to special-interest earmarks, an ill-conceived bailout to states, and permanent spending increases that expand government’s reach in areas like health care and education.
He contested his former colleague’s contention that the “stimulus” meant change, holding it represents instead a return to the politics of the past:
Instead of delivering change, this bill celebrates the politics of the past. The bill represents both the mindless partisanship of recent decades, and the failed interventionist policies of the 1930’s. The Senate can, and must, do much better. As currently written, this bill represents the worst act of generational theft in our nation’s history.
If the president is repeatedly decrying the trillion dollar deficits of his predecessor (based on a budget, I might add, passed by a Democratic Congress), why is he trying so hard to increase them?
Yes, I agree we need do something to help “fix” the ailing economy.Â But, when has such a vast increase in federal domestic largesse done that?
I just don’t get how someone can so decry deficits and then work to saddle our nation with unprecedented (for a single piece of legislation) amounts of debt.Â It’s like a guy who admitting it’s a problem that he’s maxed out his credit cards deciding to go on a spending binge.