YOU CAN'T BLAME HIM FOR TRYING...:

Obama's economic recovery plan not a hit with economists (Paul Wiseman and Richard Wolf, 9/08/10, USA TODAY)

President Obama's proposal to jolt a listless recovery with $180 billion worth of tax breaks and transportation projects left economists largely unimpressed Tuesday.

Why Obama's plan won't buy votes (Nin-Hai Tseng, September 8, 2010, CNN Money)

[Robert Salomon, professor at New York University's business school] supports more stimulus spending. He adds the tax credit holds promise, but it could act as a "misincentive," merely giving tax relief to businesses who were going to buy new equipment anyway. The hope is that the incentive prompts businesses to buy things they otherwise might not have without the tax break.

Companies have been sitting on record amounts of cash, but the lack of demand has largely kept many from spending more. Salomon gives an even-handed analysis of Obama's tax deduction, but it appears unlikely that executives would act the same as consumers.

So what good is Obama's second stimulus? If anything, it's either largely symbolic to show job creation is a top priority or a strategy to make Republicans appear they're stalling economic recovery. Whatever the intention doesn't really matter, especially to the millions still out of work.

...after all, he won because Republicans tried killing the bank bailout.

Posted by Orrin Judd at September 8, 2010 2:24 PM