As noted in quick hits by BDB and rayj, [UPDATE] and by David in a diary that just caused me to push back this diary's publication time, Obama has now gone off the deep end. After passing a stimulus that most economists (not just liberal ones) said was too small, and that was made even more inadequate by being heavily tilted toward poor-performing tax-cuts, Obama is now intentionally recreating FDR's mistake of 1937, when he prematurely cut back spending to try to balance the budget, and sent the country into a new recession.
Let me repeat that, in larger type:
Obama is now intentionally recreating FDR's mistake of 1937, when he prematurely cut back spending to try to balance the budget, and sent the country into a new recession.
Specifically: He's going to announce a spending freeze on domestic programs (but not, of course, on the military) that is "projected to save $250 billion." The rationale is that he wants to appease folks worried about runaway deficits. Which is just what FDR was worried about in 1937.
This is Bush-style idiocy. There is no other word for it.
Adding insult to injury, at the same time, he's also proposing more Ronald Reagan/GW Bush tax cuts... which will, of course, increase the runaway deficits.
And he's also talking about privatizing NASA. Because privatizing the Pentagon turned out so great!
It's time to seriously start talking about primarying Obama in 2012. He's now officially the most conservative Democratic President since Grover Cleveland. And the dumbest one since James Buchanan.
Here, to remind you, is the chart I put together during the stimulus debate, showing, among other things, the relative ineffectiveness of tax cuts vs. spending in generating jobs, which is the key to getting the nation out of this recession--the only way that we can rationally hope to start bringing down the deficits:
While some tax cuts are much better than the real stinkers, it's virtually a given that once Obama starts talking about tax cuts, the GOP is going to start demanding that Bush's tax cuts be made permanent. Not only--as you can see from the chart--are these about the least helpful tax cuts of all, they are also heavily skewed toward helping the rich and the super-rich.