Aug 11, 2010

Kudlow Report: Democrat panic attack?

From a Larry Kudlow report on CNBC:

With the disappointingly soft jobs report for July, and a faltering recovery overall, is Team Obama getting ready for some sort of new, liberal-left, Keynesian, big-bang stimulus package? Will they be desperate to “do something”?

Desperate to ward off what appears to be an inevitable trouncing at the polls in November, the Democrats may be planning an August surprise where Fannie Mae and Freddie Mac forgive underwater mortgages held by millions of Americans. That will get more people to vote for Democrats, right?

And we may see more spending bills. More bailouts that, like most of the previous Obama bailouts, will have limited success.

Or maybe the Democrats will come up with a new infrastructure-spending bill, perhaps for green technologies and whatnot.

Or maybe they’ll extend unemployment benefits even more or maybe even bringing back the 1930's WPA. That was the "New Deal" where the government employed millions during the 1930s.

It's really hard to tell what the Democrats will do in a panic attack caused by their failed policies have stalled have economy.