Morning Bell: Obama’s Desperate Times and Desperate Measures

Mike Brownfield / September 09, 2010

Faced with predictions of staggering losses for his party in November’s midterm elections, President Barack Obama today appeared on ABC’s “Good Morning America” and said, “If the election is a referendum on ‘are people satisfied about the economy as it currently is,’ then we’re not going to do well, because I think everybody feels like this economy needs to do better than it’s been doing.” The prospect of that referendum is casting a long shadow over Washington as the President and candidates alike wrestle with America’s frustration over a still-stagnant economy, despite $814 billion in stimulus spending.

So what’s President Obama’s solution? Kick into campaign mode and turn to even more destined-to-fail stimulus gimmicks, loaded with increased government spending and higher taxes.

Yesterday, President Obama chose Cleveland, Ohio, (a state with 10.4% unemployment) to deliver a blistering, campaign-style speech lambasting Republicans and laying out the details of his latest effort to jumpstart the economy. His plan includes $50 billion in spending on infrastructure that, he said, “would start putting Americans to work right away.” Despite Obama’s confidence, The Washington Post reports that the President’s plan got a cool reception from lawmakers, economists and business groups alike. One high-profile dissenter was politically vulnerable Sen. Michael Bennet (D-Colo.), who said yesterday, “I will not support additional spending in a second stimulus package.” (more…)