MartiniPundit

Random thoughts and insights – always shaken, never stirred

Democrat Spendulus Bill Passes

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The Democrats have their Spendulus Bill.

The Senate approved an $838 billion economic recovery package bill Tuesday, as Democrats held on to the few Republican supporters who helped hammer out a compromise measure last week.

The bill passed on a mostly party-line vote of 61-37. Sixty votes were needed. Three Republicans joined Democrats in passage.

Those three were Maine senators Susan Collins and Olympia Snowe along with Pennsylvania’s Arlen Specter. The two former are practically democrats anyway, as are most Republicans in New England. Apparently, Commerce Secretary-designate and putative coatroom-boy Judd Gregg of New Hampshire abstained. Wouldn’t want to have to face the new boss after saying no, he couldn’t wreck the economy further.

Here’s another example of elections have consequences: the policy of throwing Federal money after economic crises has failed every time it’s been tried. It failed in the 1930s. It failed in the 1960s. It failed in the 1970s. It failed in 1993 (the economy in Clinton didn’t take off until after the Republicans took control of congress in 1995). It failed in 2008.

Based on this dismal track record, I predict it will … fail.

Here’s what works: lower taxes, regulation, and keep the dollar strong. This succeeded when Kennedy did it, when Reagan did it, when Clinton was forced to do it, and when Bush 43 did it in his first term.

Obama doesn’t have a clue about any of this. He’s a dyed-in-the-wool lefty who is convinced in his bones that this time it will work, if only because he’ll do it right. Or something.

Democrats never learn, but maybe, just maybe the Republicans have. This albatross must now go into conference to be reconciled with the house version, where it passed without a single Republican vote. Assuming they hold firm, three RINOs in the senate do not a bi-partisan bill make. The Democrats own this thing. Lock, stock, and pork barrel.

Update: More here and here.

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Written by martinipundit

February 10, 2009 at 2:28 pm

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