Tuesday, October 11, 2011

Hooray, gridlock!

When the President spent the better part of the past few weeks haranguing Congress to pass his jobs bill, it was pure politics as he knew what really stood in the way of getting it pushed through and onto his desk for his signature was the Democrat-controlled Senate and sure enough...

Treasury Secretary Timothy Geithner said on Tuesday the Obama administration

would push Congress to approve as much of its jobs plan as possible after the Senate voted to block the plan in its entirety.

And for those of you wondering why it is some Democrats (we don't have the vote tally from the Senate) were shying away from the jobs bill, take a look at the graph below and the projections provided by Team O's Wall St. cronies economic advisors for what unemployment figures would look like if we passed the first $800 billion stimulus/jobs bill (aka Porkulus Pt. I ... aka The "I won" political payback slush fund) back in February of 2009 vs. what those unemployment figures would look like had we simply done nothing.

No doubt, vulnerable Senators like Ben Nelson of Nebraska and Claire McCaskill of Missouri would have a tough time explaining to their constituents that they voted to spend another $450 billion of money we don't have towards another jobs bill that will work just as well as the first one did.

Funny, we have yet to see any charts or graphs like the one above predicting what the unemployment rate will be if we pass Porkulus Pt. II. Wonder why? Because the (P)resident didn't want this thing to pass in the first place. It's (always) campaign season, so why let a legislative victory get in the way of being able to use a defeat as a cudgel about which to beat the Republicans on the intransigence count even if Democrats in the Senate also had a hand in shooting down the jobs bill.

Obamanomics: making the case for a do-nothing Congress since 2009.

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