So the Obama Administration is preparing to announce a freeze on Federal discretionary spending through 2013.
And they are proposing it in the middle of a the deepest recession since the Great Depression.
Apparently, it's a political decision made in response to a single election. Great. A single U.S. Senate race in Massachusetts is now dictating fiscal policy for the next three years.
It might at least make some sense if it were a smart political decision. But there's nothing to suggest that it's anything but unalloyed idiocy.
In 1937, FDR followed the same course, pulling back his stimulus programs that had been boosting the economy. The results were catastrophic. The economy tanked. And so did the fortunes of the Democratic Party. Predictably, Republicans won 79 seats in the 1938 midterms.
Fortunately, FDR recognized his mistake and reversed course, increasing spending and boosting the economy -- even before the start of World War II.
Flash forward seventy years, and President Obama is making the same mistake, probably with the same consequences.
Except this time he's got the benefit of history. But he's refused to learn history's lesson.
It seems impossible to believe, but there it is. One of the worst decisions -- if not the worst decision -- that the administration could make. And they've made it.
Such a waste.
This move can lose his base, like they are happy with this administration, anyway. Oh, and this great, fantastic idea from none other than Senator Evan Bayh from Indiana.
P.S., Senator Blanche Lincoln (D-AR) has a big announcement tomorrow, probably to say, "It's been one", and I am not sorry to see HER GO.