Democratic presidential candidate Barack Obama, who has made the economy a focal point in his campaign, is slipping in the polls as the popularity of opponent John McCain surged after his selection of the Alaska Gov. Sarah Palin as his running-mate.Now Obama and his supporters are hoping that their support for a second economic stimulus -- worth about $50 billion -- will grab the attention of voters fascinated by Palin, the moose-hunting hockey mom conservative firebrand. That's going to be a challenge.
Voters now are focused on Palin. They are gobbling up every detail about her life -- The Bridge to Nowhere (which she actually supported for a while), her baby with Down's Syndrome, her pregnant teenage daughter, whether she wanted to ban books from the local library. The list is endless. The McCain campaign is fueling interest in "Sarah Barracuda" by keeping her away from the media. This week, Palin is supposed to sit down with Charlie Gibson of ABC News. More interviews will follow though apparently not with Oprah Winfrey.
Democrats, including this one, are betting that once Palin is no longer the flavor of the week voters will move onto more pressing issues such as the economy (and, of course, "American Idol"). The economy is in terrible shape. The federal budget deficit is soaring and unemployment is at record levels. Former Treasury Secretary Larry Summers endorsed the second stimulus plan today in testimony before Congress.
I am still not convinced.
For one thing, how do we know it will be any more useful than the first one? Many people I know used the government's largess to pay down bills. Mine went to pay estimated taxes. Will the $50 billion really "stimulate" the economy or give it a tickle? If you do a second stimulus, will you need a third or a fourth?
A stimulus is a short-term solution at best. But considering how awful things are, it may be the only way to provide relief to millions of suffering Americans.











Reader Comments (Page 1 of 23)
9-10-2008 @ 3:33PM
sarah gilbert said...
you know, Jonathan, I think it's not about the real economic effect but the perceived boost. i still think economic stimulus plans are stupid but really? i love 'em. spent my last one on a new bike to avoid spending money on gas & bus tickets, if i get another it'll go to paying debt.
9-10-2008 @ 2:04PM
SAVANT9 said...
sorry charlie....er, i mean jonathan, but any commentator that calls himself a economist and a democrat is just not credible to me. you people have your agenda and it is not for small business middle class people.....
9-10-2008 @ 3:29PM
Mike O said...
Oh, and the Republicans are looking out for you... riiiight. Makes me wonder why big corporations and the ultra-wealthy are almost exclusively in the Republican tent.
Let's not forget that the Bush Tax Cuts benefited the top 5% of wage earners. The Republicans cut taxes and raised spending which is why we have out of control deficits.
Why should we trust the GOP with 4 more years of the same? Makes no sense to me....
9-12-2008 @ 5:17PM
Anne said...
Of course a new stimulus package will help the country. The people need all the help they can get. So what, if we pay off some debt we have had to accumulate BECAUSE of the bad economy. So what, if it goes to pay taxes owed. WE CERTAINLY WOULD NOT BE ABLE TO SPEND "ANY
MONEY" UNTIL WE "PAID'' THOSE BILLS, NOW WOULD WE? With a little more INCOME, we can have a little more "outgo". That won't CURE the ails of our economy, but it won't HURT EITHER.
9-10-2008 @ 7:29PM
erin said...
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9-11-2008 @ 2:19PM
Dawn said...
Bravo, Anne. You said everything, I was thinking. Bring on the checks, pronto.
9-11-2008 @ 2:13PM
jim hegarty said...
TAMMANY HALL AND THE OLD DALEY MACHINE USED TO BUY VOTES. NOTHING NEW TO DEMS. BUT THIS TIME THEY'RE TRYING TO BUY YOUR VOTE WITH YOUR OWN MONEY.
9-11-2008 @ 7:35PM
B.O STINKS said...
He plans on handing out Government checks every week TAX THE WORKING MAN and keep feeding the generations of welfare people who refuse to get off their ass and work ! Dummycraps !
9-11-2008 @ 2:14PM
Jodi said...
Raising the hell out of the taxes on corporations and the wealthy business owners will not work, we get our jobs and buy our goods from the corporations and the wealthy business owners. If their taxes go up they pass it on in higher prices for goods and services. They also cut workers and if it gets to be too much they move their businesses to other countries. Obama should know this, if he doesn't he shouldn't be president. Raising taxes on capital gains is just as stupid. People will make run on banks to protect their profits. People will try to dump their stocks before the rates go up and there goes the market.
9-11-2008 @ 2:17PM
sheilah said...
Boy, is he ever grasping at straws. Sure, give me a stimulus check and if you do make it to the White House you'll just tax me to death so I doubt it would be worth it.
9-11-2008 @ 2:19PM
zada said...
I'm in the poor class and retired, I only got a $300. stimulus check the people that makes good money got $600. and don't need it as bad as the senior citizens do and of course the seniors get the least amount...if poor they really don't help the very poor on $300. we were the ones who fought for higher wages for our children and now are left out when we got cheaper wages when we were working, goverment stinks!
9-11-2008 @ 2:20PM
Debbie said...
This time, I'd like to see this "stimulus" given to those of us who actually pay taxes rather than just those below a certain income level.
The last one was just a socialistic re-distribution of income. If you don't pay taxes, you're not entitled to a rebate; which this was clearly intended to be. This is Obama buying votes via a backdoor!
9-11-2008 @ 2:21PM
jodi said...
Where do you think the stimulus money is coming from? Sure, Obama thinks I'll give them a stimulus check and raise taxes to pay for it.
9-11-2008 @ 2:22PM
jo schwarz said...
Where do you think the stimulus money is coming from? Sure, Obama
thinks I'll give them a stimulus check and raise taxes to pay for it.
9-11-2008 @ 2:26PM
mary sapp said...
if obama is behind this check its only brib money. he is scared of the republican party and pushing for another stimulus package is just a brib the american public to see is higher tax package as a mirage.obama is truely un american.to screw us with false hopes.
9-11-2008 @ 2:31PM
Lori said...
I'm all for more money. Who can't use it? I could use one every month thanks to our plummeted economy, my predatory mortgage company and the cost of gas and food sky-rocketing. This wouldn't make or break my decision on my vote, however. I honestly do not feel that our country can afford another republican president. I am in an ever-vanishing middle-class population and am struggling to keep up with the ever soaring utilities alone. In the past, our republican leaders have been the "rich man's" president. They have given so much of what we built (jobs) to other countries and we now purchase these commodities from them. We have become a shell of what we were economically as a nation. I fear for us, either way.
9-11-2008 @ 2:27PM
Mrs. Dawson said...
A second stimulus check would be wonderful, as long as they arrive in time for the Christmas shopping. Without them many kids will be waking up sad little boys and girls this year. Remember they're too young to understand the adult problems such as the economy. My 5 year old just can't wait for Santa to come.
9-11-2008 @ 2:26PM
Sue said...
Where does Obama plan to get this money? Borrow some more from the Chinese or add some taxes somewhere? He lets his Kenyan grandmother live without even a small tv and another relative live in a hut on $1.00 a month. If he doesn't care about them, why should he really care about your family? Oh, yeah, they can't vote here. If he gets in office, just wait...things will get much worse. Socialism does that.
9-11-2008 @ 2:29PM
Jeff S. said...
I really do think that if they do give us more money it better be in the thousands not hundreds to get the people back on track for sure or it won't boost the economy at all because of to far in debt. for most people. It don't matter who get in or what they do sometimes candidates for office can promise you the world to get elected and then when they get in it is a different story then.
9-11-2008 @ 2:28PM
Amy Rosenberg said...
This is just buying vote with our tax money. How can anyone with a half a brain fall for this?