The Bush administration was poorly involved in directing economic growth with the ideology that a small government would allow capitalism to drive economic growth. In the interim the dotcom and housing bubbles drove the economy but only as bubbles with a poorly developed infrastructure to withstand the popping of said bubbles. Obama has brought back democratic spending in this new bill which he signed today to support valuable aspects of our domestic infrastructure such as healthcare, education, agriculture, renewable energy, etc. which have gone by the wayside.
http://news.yahoo.com/s/ap/20090218/ap_on_go_pr_wh/obama_stimulus
Only 3 of the 200+ republicans in congress and the senate voted for this bill following the Bush ideology of small government to prevent this from being wasteful, hasty spending bill driven by lobbiests. The fact of the matter is the government will increase spending so why not get a head start with a gargantuan bill. The bill is very fair with directed spending toward many important aspects of our nations infrastructure and economically conservative tax reductions.
http://online.wsj.com/public/resources/documents/STIMULUS_FINAL_0217.html
I don't believe this bill is designed for or should be expected to 'fix' the economy. The government has been reacting to the media's resounding overreaction to the economic situation. "Scaring hell out of the economy, begun by President Bush and continued by President Obama, has produced only the runaway crisis it was advertised to prevent" in the election year and this first year of Obama's presidency. There are many mechanisms that businesses and the economy can make to overcome this recession without the government's intervention. The government under Clinton forced the distribution of the subprime loans which led to the housing bubble and resulting painful pop of the bubble which may or may not have needed government bank intervention to fix by buying up these bad loans. Other businesses should not require a governmental fix, and the rest of this years decisions by the Obama administration, especially with the auto industry, may cause harmful effects on the economy. America needs to stop expecting the government to 'fix' this problem and begin to alter their lifestyles to accommodate the changing times.
http://online.wsj.com/article/SB123491508784704057.html
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Travis noted my biased lack of bipartisan rhetoric(among other things): The Clinton administration subprime distribution *and the Bush administration failure of oversight* led to the bubble and the pop.---I thought that I had addressed this but never the less.
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