GOP to America: FU

This is discouraging … Essentially president Obama, in the name of misguided bipartisanship, sacrificed the effectiveness of the much needed American recovery package, a.k.a, the stimulus bill:

[T]o appease the centrists, a plan that was already too small and too focused on ineffective tax cuts has been made significantly smaller, and even more focused on tax cuts.

According to the CBO’s estimates, we’re facing an output shortfall of almost 14% of GDP over the next two years, or around $2 trillion. Others, such as Goldman Sachs, are even more pessimistic. So the original $800 billion plan was too small, especially because a substantial share consisted of tax cuts that probably would have added little to demand. The plan should have been at least 50% larger.

So, while president Obama played the bipartisan Washington game and wooed republicans, the GOP (Grand Obstructionist Party) just gave the finger to the president and a big FU to the country.