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Obama Spending

Just To Spend

by Dick Morris

and Elleen McGann

February 17th, 2009

NEWSMAX

The stimulus package 

President Obama is signing 

today in Denver is a 

Trojan horse.

Labeled a bill to 

help the economy, 

it is really just an amalgam 

of the Democratic Party’s 

spending priorities over 

the past 30 years with 

some extra pork barrel 

items thrown in 

for seasoning.

It will not — 

it cannot — 

have an appreciable impact.

Due to the overwhelming lack of 

confidence in the current economic 

situation 

(only a third believe the stimulus 

package will do much to help), 

consumers and businesspeople 

are going to sit on any cash 

the package puts into their hands, 

either saving it or using it to pay 

down credit card and other debt. 

It will have the same lack of 

stimulus as the Bush stimulus 

passed last year. 

Without some longer term confidence, 

government spending will have 

very little economic impact.

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But the package will park lots of 

money off to the side of the road. 

And when the economy 

shows signs of recovery, 

it will come out of hiding and 

flood the economy 

causing huge inflation and kindling 

an inflationary cycle that can only 

be halted by a new, 

government-induced recession 

as we had in 1980-82.

All of this pain is being 

caused by Obama’s opportunistic

attempt to cash in on our 

concerns and his 

political capital to trigger 

a huge increase in 

government spending,

 just for the sake of spending.

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