Republican senators Susan Collins and Olympia Snowe of Maine, along with Arlen Specter of Pennsylvania announced last night that they had decided to cave in on the biggest, most wasteful spending plan in American history. Or, if you're a fan of President Barack Obama, they decided to be "patriotic."
Mr. Obama called Ms. Collins and Mr. Specter, as well as Senator Olympia J. Snowe of Maine, another Republican expected to support the deal, to acknowledge they were acting against pressure from their party and, one official said, to thank them for their patriotism in helping advance the bill at a critical time. [emphasis added]
Oh for the days when dissent was patriotic!
Look, there is some spending that has a short-term stimulative effects on the economy. But by all accounts, the vast majority of spending in this bill isn't. Instead, the American people have been handed a bill of goods that will cost more than $1 trillion dollars once interest payments are factored in.
How about those tax cuts Obama promised 95 percent of Americans? Well, I think you're getting another $500 to $1,000 check like those that didn't work last year, but I'm not sure. If you get a check, you might want to hold onto it because taxes are going to have to go up in a couple years to pay for all this non-stimulative spending.