Tuesday, February 17, 2009
Obama Signs Stimulus Bill
Obama has signed the stimulus bill into effect while in Denver, Colorado. After putting out $787 billion in this recovery package many have been wondering how much more we can possibly spend. At the same time many Republicans have been yelling why we are already spending so much. Yet Obama today stated something likely known to many who have been following the stimulus package, there needs to be more money. It's startling to think about when you are dealing with over three-quarters of a trillion dollars (on another note it is even odd to type trillion). The city of Denver right now has been suffering more foreclosures than homesales, as its unemployment jumped from November to December by half a percentage point. The question is: Will the American people continue to follow Barack if he asks for yet another stimulus package? and if not what will it mean for the democratic party if there is a loss of public support?
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2 comments:
I think there is going to be some significant backlash if he asks for another stimulus package...it may be viewed by many as a manipulation of the public (and most importantly the republicans). If more money was needed, he should have campaigned for it and rallied the people behind it. If he NOW says we need more...the public may feel they've been duped by this first package. It will be interesting to see. Back to you, Risi.
I think you wait 1-2 months (or whatever timeline you need) to see the immediate effects of the just-signed package. If the economy continues to fall, you push for another package. If it bottoms out - which is hard to tell - you give it another couple of months and go from there. I personally do not think Obama will suffer terribly for pursuing another package if he makes a sensible case for it and ensures the Republicans don't define it before he can. This is especially true if Obama can rack up some minor (or major) victories not related to the economy in the next few months. A comprehensive immigration/energy/health care bill or progress in the ME would go a long way in maintaining his public support.
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