April 22, 2010
THE SECOND WAY WAS BORN OF THE DEPRESSION...:
Democrats at the Edge of the Cliff: Democrats are spending trillions at the worst possible moment, with a new poll showing public trust in government at a historic low of 22%. (Daniel Henninger, 4/22/10, WSJ)
There was always something eerie about the way the Democrats said their health-care legislation was what the American people had waited "70 years" for. Invoking the ghosts of 1939 was kind of creepy. Then when the moment in history finally arrived, history got no votes from the other party. Whatever the politics, there was something ominous about all this. One felt something else was going on. [...]
Something unique happened in the first Obama year, about the last thing the Democratic Party needed: The veil was ripped from the true cost of government. This is the ghastly nightmare Democrats have always needed to keep locked in a crypt.
Before the Internet, that was easy. Washington, California, New York, New Jersey—who knew what the pols were spending? The Democrats (and their Republican pilot fish) could get away with this. Not now. Email lists, 24/7 newspapers, blogs, TV and talk radio—the spending beast is running naked.
When the financial crisis piled in atop a recession, the Democrats' academic/pundit economists blandly convinced the party to wave a $787 billion stimulus at the problem in early 2009. Then, on April 30, the Democrats passed an FY 2010 budget of $3.5 trillion. This year the FY 2011 budget hit $3.8 trillion, reaching a post-World War II high of 25% of GDP. In March, they passed the trillion-dollar health-care bill. Total headline spending commitments in one year: about $9 trillion. That's a lot of "trust" to ask for during a recession with 9% unemployment. And now a sense is building of some broad middle-class tax grab. After soaking the rich, comes the deluge.
Demonization? No need. They did it to themselves.
...so they needed another to try and save it. But the Left, like the Right, understimated the American economy. All it took was W's guarantee of the banking system and disaster was averted. But the GOP got stuck in 2008 opposing it and the Democrats are stuck in 2010 having spent trillions because they didn't believe in it. Posted by Orrin Judd at April 22, 2010 12:41 PM