In the first major test of his presidency, Barack Obama was today faced with the aftermath of a giant stimulus package that has decimated the American heartland. In an evening television broadcast, the President addressed the nation:
It is with a heavy heart that I speak to you tonight in the wake of this terrible tragedy. It appears that the financial stimulus package that I helped to create has mutated into a dangerous creature that has devastated all areas of the country.
Reports are still streaming in but it is now clear that no region has been untouched by this giant financial instrument. Banks in every corner of our land have reportedly gorged themselves on the package’s unrestricted lending provisions, leaving them so bloated that they are unable to issue credit to ordinary Americans.
This terrible monster has also affected virtually every state in the Union with its unexpected add-ons, earmarks and pork barrel grants. Instead of issuing funds to stimulate the economy, this horrible creature has dumped untold billions of dollars on useless projects wherever federal legislators reside.
When I first introduced the package to the Congress, I assure you that it was a benign creature whose only intention was to boost the economy in a fair and non-partisan fashion. But unfortunately, by the time it had travelled from the House to the Senate and back, it had somehow grown to a gigantic, unwieldy, mutated hodge-podge of patronage spending.
Once the creature reached my desk for signature, I have to admit that I was afraid to challenge it. Given its width, breadth and strength, I knew a mere veto would not have been enough to strike it down.
Frankly, I feared for the consequences. Yet I hoped against hope that if I released this monster into the land, at least some good would come of its myriad provisions. Now I know I was wrong.
My fellow Americans, there is little we can do now to halt the destructive path of this financial monster. Sadly, we have no choice but to let it do its worst and eventually it will deplete itself and fade away. But until it does, we must quickly take measures to repair the damage done by creating a new, better, more efficient stimulus package.
I urge you and Congress to work with me to try once more to give away more billions to help truly heal our financially troubled nation. With your help, maybe - just maybe - we can get it right this time. After all, as they say, third time’s a charm.