Everything Kudlow mentions as something the Dems may try or do scares the heck out of me. Even if Congress swings to the right in November I hear the Dems are going to try and push through all kinds of crap before they take their seats. These two years, the first years of Obama, are going to go down in history as doing the most damage to the foundation of our country and the future of our county. Even when and if there's a conservative takeover in Congress come January they're not going to be able to reverse much of what's been done until we clean out the White House in 2012, too.
A Democratic Panic Attack?
With the disappointingly soft jobs report for July, and a faltering recovery overall, is Team Obama getting ready for some sort of new, liberal-left, Keynesian, big-bang stimulus package? Will they be desperate to “do something”?
Already there are rumors of an August surprise (to use the phrase of business columnist Jimmy Pethokoukis) where Fannie Mae and Freddie Mac forgive underwater mortgages held by millions of Americans. And with state and local government jobs having fallen 169,000 year-to-date, perhaps the Democratic Congress and the White House will seek an even bigger spending plan for teachers and Medicaid workers -- on top of the $26 billion plan that just passed the Senate.