So the President gave his speech and for me it did not disappoint.  It was everything I expected and more.  The stern look that lets all of us know that this unemployment thing is NOT his fault.  The staccato cadence delivered in a booming voice.  And the repetition!  It was like a televangelist on crack.  We were all so busy counting the number of times he admonished Congress to “pass it now”, that we never really noticed that he did not give many details  of exactly what they were passing. Like Obama Care and Dodd-Frank, we will find out what is in there after we pass it.  Isn’t this the guy who wanted a completely transparent administration?   One thing we know, it is absolutely NOT a stimulus package.  We know that because it is not called a stimulus package.  It is the Jobs Recovery Act.  I am pretty sure we had one of those already, and  I don’t remember it being a huge success.  Well, if at first you don’t succeed.

Is anybody keeping track of all of the packages we have allowed so far?  This all reminds me of the children’s song “There Was an Old Lady Who Swallowed a Spider”, in which an old woman swallows larger and larger animals, each in an attempt to catch the previous animal.  She starts with a fly, ends with a horse.  The horse is the one that does her in.  Wondering when we will get to the horse.

We should not worry though, this particular Act will be paid for, and not a penny will be added to the deficit.  The Super Committee will find the additional $447 billion.  They are, after all, super.   It is unclear if they will do it before or after they cut roughly $1.9 trillion from the deficit.  We know they have until November 23rd to perform that feat.  If I were on the committee I would feel like I was being set up, but I’m a bit suspicious by nature.

How coincidental that the Job Recovery Act is being rolled out as the  financial sector and other large businesses warn that there will be massive layoffs after Dodd-Frank takes effect in October.  I see another Recovery Act aka Stimulus package in the very near future.   I wonder, how does horse taste?