Saturday, August 7, 2010

DemocRAT Panic Attack

I think it set in a while back myself, they are now just in full flight from reality.
Some interesting takes from Larry Kudlow, who I like and think is a pretty sharp guy.
With the disappointingly soft jobs report for July, and a faltering recovery overall, is Team Obama getting ready for some sort of new, liberal-left, Keynesian, big-bang stimulus package? Will they be desperate to “do something”?
Big bang stimulus? That last trillion really helped eh? 

Great Depression Unemployment Line.JPG
Already there are rumors of an August surprise (to use the phrase of business columnist Jimmy Pethokoukis) where Fannie Mae and Freddie Mac forgive underwater mortgages held by millions of Americans. And with state and local government jobs having fallen 169,000 year-to-date, perhaps the Democratic Congress and the White House will seek an even bigger spending plan for teachers and Medicaid workers — on top of the $26 billion plan that just passed the Senate.
That forgiveness of underwater loans this close to an election is about one thing, and one thing only. 
VOTE BUYING!! 
Another 26 billion? Why? A trillion didn't help, why flush more?
The article is worth reading as is most of Larry's stuff.
One paragraph that shows the true liberal democRAT'S feelings about how they view capital.
Maybe the Democratic revolt in favor of keeping all the Bush tax cuts will gather steam. But Democrats are more likely to push for greater spending than investment tax incentives. They’d rather take your money than let you keep it.
From Big Government

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