If there is no economic growth there is no tax revenue to pay for this so Obama is playing a dangerous game. At some point Obama will stop talking down the economy (after he gets what he wants) and will have to start talking it up, about how he saved it from republicans. He will need us to spend again enough to pay taxes.
Meanwhile Peter Schiff was in Saudi Arabia telling them they are crazy to loan anymore money to the US government, that our current spending trajectory shows we never plan on paying back the debt, just refinancing more and more, and eventually printing it away. I don't know if they have a choice, many say they dont.
BINGO. Once the bill is signed, expect obama pressers to begin with the music “Happy Days are Here Again”
Expect the media to treat us to endless stories about happy peasants digging ditches, riveting bridges, filling potholes, changing light bulbs, painting schools, spending their $400 gubmint checks on designer Nikes, and herding children into shiny new government daycare centers.
Expect endless human interest stories about how obama changed people's lives. Expect president Potemkin to tour numerous make-work community projects to receive thanks and praise from the peasants for his stimulus money.
Now that we have seen how an ignoramus can talk down the economy, we're going to be treated to seeing if an ignoramus can talk the economy back up.
Thanks for the ping.