Business

Republicans Going All In On Stimulus Opposition

By  | 

The way some Republicans are talking, Obama’s plan will destroy our very way of life.

Do they really think it’s smart to put such an extreme message out there?

From CNN:

Leading Republicans warned Sunday that the Obama administration’s $800 billion-plus economic stimulus effort will lead to what one called a “financial disaster.”

“Everybody on the street in America understands that,” said Sen. Richard Shelby, the ranking Republican on the Senate Banking Committee. “This is not the right road to go. We’ll pay dearly.”

Shelby, of Alabama, told CNN’s “State of the Union” that the package and efforts to shore up the struggling banking system will put the United States on “a road to financial disaster.”

But it’s not just Shelby. McCain is getting in on the gloom and doom as well…

“We need to spend money on infrastructure and on other programs that will immediately put people to work. But this is not it,” said Sen. John McCain, R-Arizona, last year’s GOP presidential nominee.

Senators reached a tentative agreement Friday on a compromise bill largely negotiated by a handful of moderate Republicans whose votes are needed to prevent a filibuster. But McCain told CBS’ “Face the Nation” that the package should have been about half the size of the one now before senators, and should be balanced between tax cuts and spending.

“We’re going to amass the largest debt in the history of this country, by any measurement, and we’re going to ask our kids and grandkids to pay for it,” he said.

Newsflash…our kids and grandkids are already paying for the failed policies of the Bush administration right now. And virtually nobody I’m reading is happy that we have to put together such a massive stimulus bill to address the current crisis, but if we don’t do something to get people working and instill confidence in the system, more businesses will fail and more people will lose their jobs and guess who they’ll have to rely on at that point?

So here’s my question: what economic indicators will Republicans be pointing to in 2010 and beyond to demonstrate that Obama has wrecked the economy? Because that seems to be really the only thing they’ll be able to run on.

And if this recession continues for a couple more years, can Republicans really claim with a straight face that it was the Obama administration that caused it? Because I don’t think Americans will buy that. Well, 45% of them might, but the other 55% will remember which party presided over the collapse and which one stepped in to help stop the bleeding.

I just wonder if this is a strategy that almost guarantees a electoral backfire if the economy starts to pick up again in a year or so.

What do you think?