Weekly Quote: Karl Rove dismantles Obama budget numbers

Karl Rove
Wall Street Journal
1-15-09

“Many Obama proposals are spending marketed as stimulus. Much of his “middle-class tax cut” goes to people who have no federal income tax liability. It’s really a $500 per worker annual tax credit. Is $20 a week ($40 for couples) in welfare stimulative?…Take the “green jobs” he promises. There are 6,856 people who work for companies that make solar cells in America and 2,150 people who work for the biggest wind equipment maker. Mr. Obama says he’ll create 459,000 new “green energy” jobs like those. Can he really do that? A lot of people will be keeping score. Mr. Obama says 244,000 of his new jobs will be in government. Will these new government employees disappear when the economy recovers? Or is Mr. Obama pushing the largest expansion of government since LBJ’s Great Society?”

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  • Marvin McConoughey

    Parallels. American consumers went too far into debt to keep their credit worthiness. In response, the federal government is now going too far into debt to keep its credit worthiness. How does this improve our long term future?

    • John in Oregon

      Exactly

      Mark Sanford governor of South Carolina put it this way.

      “The bottom line is this — issuing debt on top of debt to solve a problem created by too much debt threatens both the financial strength and the sustainability of our country…. “Economic stimulus” is more than simply borrowing money and sending checks out of Washington. It is about making sure that our country’s finances are on stable ground so that our real source of economic stimulus — the American entrepreneur — isn’t paying for today’s political quick fixes for generations to come.”