Wednesday, February 4, 2009

Is Obama's Stimulus Plan Losing Steam?

President Barack Obama's legacy, and possible second term presidency, may well be tied to the $1 trillion dollar stimulus package that––while passing the House of Representatives without one single Republican vote––seems to be in trouble.

The latest Rasmussen poll numbers reflects public support continues falling each day the stimulus plan receives further scrutiny in the bloggersville and by those in the media. According to pollsters only 37% of the American public now support the plan. This is not a good sign, as this is the first major economic leadership test of a president who is supposedly still in his 100-day honeymoon stage.

A major signal that Obama's economic plan may be headed to the trash heap, is that his arch-rival during the 2008 Presidential contest, Senator John McCain, came out to vehemently oppose the bill... going as far as to e-mail his supporters and urging them to oppose the plan as well.

Another ominous indicator is the recent rumblings by members of his own party. Democratic Senators are conceding publicly that the votes needed to pass this plan–– even though they have a distinct numbers advantage over the Republicans––just are not there!

The president is astutely aware of how much his political future depends on this package. Consequently, he is spending a vast amount of the valuable political capital he recently attained on assuring passage of this bill. Over the past few days he has made the rounds on every major television network repeating the dire consequences if his bill is not passed by the Senate. Obama sent a warning to Congress that failure to act on his $900-billion stimulus package will “turn a crisis into a catastrophe and guarantee a longer recession.”

President Obama's plan may be losing steam, but for now he appears to be going down swinging!

1 comment:

Anonymous said...

The American people were dupe by TARP. It appears that they are smarter this time around. Maybe the president should put more emphasis on helping congress to design a package that really will stimulate the economy rather than one overloaded with entitlements.