Beacon Street Journal

After eight long years of the fiscal recklessness of the Bush Administration masquerading under the nebulous guise of “compassionate conservatism”, it was refreshing to see unity in the ranks of the House Republicans who to a man, resoundingly rejected the $1 trillion dollar monstrosity euphemistically referred to as an economic stimulus bill. The bad news is that Democrats have the votes to pass this thoughtless and precipitous piece of legislation. The good news is that when it does nothing to improve the economy, they own it.

The stimulus bill represents a wish-list for all the liberal constituencies who have had to suffer the indignities of a Republican Administration for the past eight years. The alacrity with which this boondogle was drafted illustrates that there was enormous pent-up demand for all the pet causes of left-wing Democratic Party advocacy groups. Can anyone explain how a $335 million dollar appropriation for STD prevention will help stimulate the economy and create jobs?

As most of the appropriations will not be expended well after two years of its enactment, no reputable economist believes this bill will do anything to jump-start the economy. The Wall Street Journal estimates that about 12 cents of every $1 in the bill, is for something that can plausibly be considered a growth stimulus. The legislation is a veritable orgy of reckless spending passed to satisfy the desideratum of the left-wing base of the Democratic Party.

And what of the bill’s fate in the Senate? The conduct of Republicans in that body, to date, gives me great pause for any optimism. Electing to shirk their responsibilities incumbent upon the loyal opposition, far too many Republicans simply rolled over for Hillary Clinton’s confirmation hearing as well as that of Eric Holder. If they were going to rubber-stamp Obama’s nominee’s, the least they could have done is come up with some probing questions.

I also worry about Maverick John McCain rearing his head, and using the occasion to blather on about “bi-partisanship”, and “reaching across the aisle.” This posture may prove inimical to maintaining unity within the ranks of his fellow Republicans. The only silver lining present in that cloud is that the stimulus package is so chock-full of earmarks that even the Maverick — if true to his professed principles — may find the bill, as written, hard to swallow.