Economist, columnist and CNBC host Larry Kudlow reports the Obama administration is considering making the $1 trillion government expansion plan even bigger — throwing in an amazing $2 trillion in additional bailouts for banks.
That’s three trillion dollars in expanded government spending. $3,000,000,000,000.00. $10,000.00 in new government spending for every man, woman and child in the United States — with very little evidence it will create significant numbers of jobs or speed up inevitable economic recovery.
After facing bipartisan opposition in the House, the government expansion plan moves to the Senate. Economist Martin Feldstein, whose endorsement of the original plan was touted by Obama as a selling point, has withdrawn his support and is calling upon the Senate to delay passage.
Voter opposition to the Obama spending plan is already rising and support has plunged to 42 percent. Support is declining fastest among the independent voters senators rely on to win election — and that’s before the possible $2 trillion in additional bailouts is included.