Monday, June 22, 2009

Paglia: Obama's Waterloo

Paglia from a few weeks ago.
Within the U.S., the Obama presidency will be mainly measured by the success or failure of his economic policies. And here, I fear, the monstrous stimulus package with which this administration stumbled out of the gate will prove to be Obama's Waterloo. All the backtracking and spin doctoring in the world will not erase that major blunder, which made the new president seem reckless, naive and out of control of his own party, which was in effect dictating to him from Capitol Hill.
Government can do little to help the economy but it can do a whole lot to hurt things. The stimulus package will do little to help (it was all politics and little economics) and just tied the Prez's hands on future policy especially health care. I think in time Paglia will be proved right here and it will be seen as the huge mistake made right at the starting gate.

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