CBO Rains on Obama Parade

The president is “upbeat” about the economy these days, but increasingly others who can hardly be characterized as partisan critics are casting doubt on the impact of the stimulus and the outlook for recovery. This report explains:

The CBO report found that through April only about $19 billion in stimulus funds has been spent.

If the CBO is right, does Obama declare his own stimulus plan a failure and ask for a second one? Or do the unlucky Democrats running in 2010 just have to buck up and face the voters? I suspect that Congress will find it hard to justify yet another Keynesian boondoggle after earlier attempts by both George W. Bush and Obama failed. And, after all, Obama himself has told us the already accumulated debt is “unsustainable.” Perhaps the same can be said for  Obama’s economic approach.