Dems Lower The Bar On Stimulus

Democrat talking heads made the rounds of the Sunday talk shows to lower public expectations of the administration’s proposed $825 billion economic stimulus package.

Speaking on CBS’ “Face the Nation”, Vice President Joe Biden said to expect a long and painful recovery ahead. Ok. So how exactly would this stimulus impact the economy any more than if we were to do nothing? Most economists have already forecasted growth beginning sometime in Q409 without government intervention. Why not fuel this recovery with real and lasting cuts to the corporate income tax to stimulate business investment?

Across town, Nancy Pelosi told ABC’s “This Week” that, while she’s open to additional government bail out money for banks and financial institutions, taxpayers must get an ownership stake in return. Somewhere in Venezuela, Hugo Chavez is dancing and shouting “Viva la Pelosi!”

For years, the left blasted the Bush Administration for using 9/11 as a pretext for invasion of Iraq, as well as a whole slew of alleged transgressions of civil liberties. What is the stimulus package then, if not the democrats’ version of the Sears Christmas Wish List of entitlement spending and big government ideas repacked as economic tonic to treat a national emergency? Apparently, it was their intent all along.

As I've said previously, congressional republicans would be wise to develop a counter-proposal that de-emphasizes overreaching government spending and encourages private investment and spending through cuts in corporate and capital gains taxes. They need to hold the line on needless government works projects as deficits skyrocket and shortfalls on other entitlement programs like Medicare and Social Security loom on the horizon.

The trick here is not to seem as the knee-jerk minority party poo-pooing the vision of a new president; but rather as the voice of common sense and experience, who just happened to control Congress for a good chunk of the run up to this mess. Republicans need to portray themselves as learning the lessons of governmental efficiency and fiscal responsibility. This battlefield might be as good a place as any to start.