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Definition of Insanity: Senate Dems Want New Stimulus Spending in Deficit Reduction Plan

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By Doug Powers  •  June 22, 2011 03:10 PM

**Written by Doug Powers

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I checked and re-checked the date on this story to make sure it wasn’t a couple of years old, because nobody could be this stupid now — right? Yeah, I know. I soon came to my senses and remembered who we’re dealing with.

Believe it or not, the Captain(s) of the Titanic are talking about taking one more run at the iceberg before the ship goes under:

Democrats in the Senate on Wednesday called on Vice President Joe Biden to include new economic stimulus spending in deficit-reduction talks as a way of lowering the 9.1 percent jobless rate that is hobbling the economic recovery.

Senate Majority Leader Harry Reid made the proposal to the White House, Richard Durbin, the No. 2 Democratic senator, told reporters.

“The Republicans are fixating on the budget deficit and it’s a serious problem,” Durbin said.

But citing the conclusions of a presidential deficit-cutting commission that he served on last year, Durbin added, “Get the recovery right before you get in this deficit cutting mode … get people back to work. Let’s start moving in that direction.”

More spending should do a lot to address this problem:

The Congressional Budget Office reported Wednesday that the nation probably will owe outside creditors more than the size of the entire economy in 10 years.

The forecast — a public debt equal to 101% of the economy in 2021, and rising to 187% by 2035 unless dramatic changes are made — should be a warning to President Obama, Congress and Vice President Biden’s band of bipartisan negotiators meeting daily to devise just a short-term fix.

Should be a warning, but obviously it isn’t.

**Written by Doug Powers

Twitter @ThePowersThatBe

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