Obama Signs Stimulus Bill

For those of you living under a rock yesterday, Obama signed a $787 billion stimulus bill into law despite strong partisan opposition.  Unfortunately, the plan offered up by  Congressional Republicans (Camp/Cantor Amendment) relied heavily on tax cuts and practically eliminated all governmental stimulus spending ($47 billion versus the passed bill’s $506 billion).  How the opposition’s amendment represented the “bi-partisan” bill they were clamoring for is beyond me, but I question how continuing the previous administration’s failed fiscal policies (tax cuts, tax cuts) would bring about any improvements in our struggling economy.

Don’t get me wrong, I don’t believe massive government spending and increasing our national debt even further is the answer to our economic ills, but until I come up with a better plan, I will always reject what I see as crazy: Doing the exact same thing over and over again, while still expecting a different result.

Obama called the stimulus package a “balanced plan with a mix of tax cuts and investments.”  Here is his post-signing speech at the Denver Museum of Nature & Science:

- Matt

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