Even the Congressional Budget Office recognizes that any small positive effect of the stimulus bill would be erased by long-term economic stagnation and debt. And that was the previous version of the legislation.
The latest version of the economic-stimulus package is expected to provide less near-term support for the economy and make it less likely that the economy will pull itself out of recession before late this year.
President Obama is in a race against time. Because you donâ€™t build support over time. You lose support. In other words, the longer it takes the conference committee to work out a final version of the bill (and weâ€™re talking days, not weeks), the more time there is for the ugly details of this legislative beheamoth to be revealed. Itâ€™s happening already, and the more the people know about how the sausage is being made, the less likely they are to want to want a serving.
Obama: “Um, that little pledge about transparency, a 5-day sunshine period for citizens to review legislation online before it’s voted on? You didn’t really think I meant that, did you?”