Pols Sink or Swim With the Stimulus
Posted on Feb 15, 2009
President Obama on Tuesday will sign the stimulus bill, which passed without the support of a single House Republican and with only three votes from the GOP in the Senate. With battle lines that stark, lawmakers have tied their fates to that of the bill.
If the legislation succeeds, Democrats will take credit for stabilizing the economy and creating millions of new jobs. Republicans hope to hang a $787 billion albatross around their rivals’ necks if the plan fails.
If it has the desired effect of creating or saving up to 4 million jobs and kick-starting the economy, the package will be judged a smart move akin to President Bill Clinton’s economic plan that was hotly debated back in 1993. Clinton’s decision to raise taxes to balance the budget was seen as the foundation of the U.S. economic boom of the 1990s.
If it does not, opposition Republicans will be able to argue that Obama should give more consideration to their ideas, which focused on tax cuts. A lack of an economic rebound will provide fodder they’ll use against the Democrats in the 2010 mid-term elections.
Flickr / Jeffrey Beall