The Democrat's Stinking Stimulus Scam

"I think when you spread the wealth around, it's good for everybody."

While Barack Obama didn't quote Chairman Mao directly, he did come close enough that we all smelled the stench of redistribution on his loafers. And now we can see the eventual source of the stink. It's called "The Stimulus Package" and America just stepped in it.

Maybe the poopiest (good Lord, did I just write that word?) part of the package is the insane mortgage rescue elements. Larry Kudlow described it best:

President Obama’s massive mortgage-bailout plan is nothing more than a thinly disguised entitlement program that redistributes income from the responsible 92 percent of home-owning mortgage holders who pay their bills on time to the irresponsible defaulters who bought more than they could ever afford. This is Obama’s spread-the-wealth program in action.

Team Obama is rewarding bad behavior. It is enlarging moral hazard. It is expanding its welfarist approach to economic policy. And with a huge expansion of government-owned zombie lenders Fannie Mae and Freddie Mac, Team Obama is taking a giant step toward nationalizing the mortgage market.

Oh, and to make matters worse, the administration is making sure its favorite feckless lenders aren't subjected to additional regulation by fiscal watchdogs. Haven't we seen this before?

CNBC correspondent Rick Santelli added his voice of outrage from the commodity pits, to the supportive cheer of traders:



But President Obama isn't listening because this "stimulus package" isn't about helping the economy or supporting the American idea. This package is about paybacks. It's about political gain. It's about a socialistic redistribution of wealth. And it stinks.