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Wednesday, March 11, 2009
10:07 AM EDT
Sandra Fabry

You Ain’t Seen Nothing Yet – Keynesian Kitchen Sink Economics Round II In The Works

The Pelosi-Obama-Reid trillion dollar spending and debt package passed under the guise of economic stimulus is less than a month old, and already, taxpayers are put on notice that another such package is in the works. 

On the heels of a Democratic Steering and Policy Committee meeting on Tuesday, House Speaker Nancy Pelosi announced with regard to the possibility of Congress taking up another “stimulus” package in the near future: “We have to keep the door open.”
 
However it appears as if the doors are not only kept open, but the draft process is already underway. As Politico reports, House Appropriations Committee Chairman David Obey has already instructed his staff to work on a draft version for a second “stimulus” proposal (while cautioning that there isn’t a timeline for it yet).

Here's what Grover Norquist had to say:

“During the presidential campaign, President Obama accused his primary opponent Hillary Clinton of ‘kitchen sink strategies,’ saying that she had ‘the kitchen sink flying, and the china flying, and the, you know, the buffet is coming at me.’ Ironically, this quote is probably the most fitting description of the economic policy the folks running Congress and the White House adhere to.” 

“This is ‘Keynesian Kitchen Sink Economics’ at its best.  Neither history nor the fact that the markets aren’t buying the “stimulus” seems to have taught Pelosi, Obama and Reid a lesson.  Their answer to everything is to spend more taxpayer dollars, but they fail to acknowledge that however much good money government throws after bad, it cannot create wealth. Taxpayers better duck for cover, because here comes the kitchen sink!”

For a PDF version of the press release click here.

Posted by Sandra Fabry on Wednesday, March 11, 2009 10:07 AM EDT
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