by Dr. Roy Cordato
Senior Economist, Emeritas
One would expect a report coming out of Cybercastt News Service (CNS) or even Fox News to show some skepticism toward Obama’s “pass it now” non-stimulus stimulus plan proposed in last night’s speech, but even the Associated Press seems to be rolling its eyes at the President’s chutzpah. Here’s how AP reporters Calvin Woodward and Tom Raum approach the story.
President Barack Obama’s promise Thursday that everything in his jobs plan will be paid for rests on highly iffy propositions.
It will only be paid for if a committee he can’t control does his bidding, if Congress puts that into law and if leaders in the future – the ones who will feel the fiscal pinch of his proposals – don’t roll it back… if the moment was extraordinary, the plan he presented was conventional Washington rhetoric in one respect: It employs sleight-of-hand accounting.
The authors then go on to prove their point by challenging claim after claim using direct quotes from Obama’s speech. Wow, if our stimulator in chief can’t even get the AP on board you know that the plan is full of holes.