February 17, 2009
When President Obama, the Democrats and only three Republicans succeeded in passing a $787 billion dollar stimulus package last week, Arizona Senator John McCain said “This measure is not bipartisan, it contains much that is not stimulative and is nothing short of generational theft.”
McCain is not wrong. But it’s the first time – in a very long time – that he’s been right.
Replied New York Sen. Chuck Schumer to McCain’s criticism of the stimulus package “We know that the arguments about debt and generational theft ring hollow because you didn’t make those arguments once in the last eight years when the deficit ballooned because of spending on the Iraq war and spending on tax cuts largely for the highest income people in America.” Setting aside his class warfare, Democrat clichÃ©’s, Schumer is not wrong either.
What we are seeing in Republican opposition to this latest stimulus package is a complete reversal by leaders that have long been comfortable with massive debt, or “generational theft,” so long as their president and their party were doing the spending.
<object width=“425” height=“344”><param name=“movie” value=“http://www.youtube.com/v/9HfxngQpXc0&hl=en&fs=1”>
<embed src=“http://www.youtube.com/v/9HfxngQpXc0&hl=en&fs=1” type=“application/x-shockwave-flash” allowscriptaccess=“always” allowfullscreen=“true” width=“425” height=“344”></embed></object>
Daily updates with TM’s latest