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Will a second economic stimulus revive Obama's campaign?

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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.

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Last updated: November 26, 2009: 01:22 AM

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