If it's in the News, it's in our Polls. Public opinion polling since 2003.

 

Greece Comes to Washington, Again

A Commentary By Lawrence Kudlow

Thursday, May 27, 2010

One day Team Obama announces a plan for enhanced rescission authority to impound wasteful spending. The next day the House surfaces a $200 billion “stimulus” plan to spend on transfer payments for welfare, even more unemployment compensation, still more Medicaid, and a bunch of special-interest subsidies.

So are we to believe that Obama will rescind the excess appropriations?  Hardly. And since pay-go is dead, most of the new spending is not offset. It will add to deficits and debt.

The Greek disease. The welfare state run amok. Right here at home.

And in true class-warfare style, a small portion of the $200 billion is supposed to be offset by jacking up capital-gains taxes for investment partnerships. If passed, this would reduce investment, jobs, and economic growth, and enlarge the deficit. Higher spending and investment taxing is a true austerity trap.

Then we read in USA Today  that private-sector personal incomes are at an all-time low, while government benefits as a share of income stand at an all-time high. I believe this is called redistribution.

And then comes a study from the Harvard Business School that states: “Stimulus Surprise: Companies Retrench When Government Spends.” What a shocker. (Hat tip to Don Luskin.)

House Democrats apparently don’t read newspapers from Greece or the United States. And they sure don’t read Harvard B-School studies.

    COPYRIGHT 2008 CREATORS SYNDICATE INC.        

   See More Commentary by Lawrence Kudlow       

   See Other Political Commentary       

      Views expressed in this column are those of the author, not those of Rasmussen Reports.            

Rasmussen Reports is a media company specializing in the collection, publication and distribution of public opinion information.

We conduct public opinion polls on a variety of topics to inform our audience on events in the news and other topics of interest. To ensure editorial control and independence, we pay for the polls ourselves and generate revenue through the sale of subscriptions, sponsorships, and advertising. Nightly polling on politics, business and lifestyle topics provides the content to update the Rasmussen Reports web site many times each day. If it's in the news, it's in our polls. Additionally, the data drives a daily update newsletter and various media outlets across the country.

Some information, including the Rasmussen Reports daily Presidential Tracking Poll and commentaries are available for free to the general public. Subscriptions are available for $3.95 a month or 34.95 a year that provide subscribers with exclusive access to more than 20 stories per week on upcoming elections, consumer confidence, and issues that affect us all. For those who are really into the numbers, Platinum Members can review demographic crosstabs and a full history of our data.

To learn more about our methodology, click here.