Robert Reich, a former Clinton Secretary of Labor who now favors Barack Obama, says that the gas tax holiday Ms. Clinton supports – as does John McCain – is "economically stupid" and would increase demand for gas while costing the government $9B to finance. And he’s not alone.
…when economists tell a president or a presidential candidate that his or her idea is dumb – and when all respectable economists around America agree that it’s a dumb idea – it’s probably wise for the president or presidential candidate to listen.
…
Even though the summer gas tax holiday is pure hokum, it polls well, which is why HRC and John McCain are pushing it. That Barack Obama is not in favor of it despite its positive polling numbers speaks volumes about the kind of president he’ll be – and the kind of president we’d otherwise get from McCain and HRC.
It is interesting to note that on the previous Congressional giveaway – the so-called Stimulus Act – neither Obama or Clinton cast a vote. Presumedly this was because of their respective campaign schedules and the fact that the compromise bill was going to pass with or without their support.
But both Democratic candidates took great pains in order to vote for a more substantial Democratic version of the bill.
Like the gas tax holiday, the economic stimulus package is a bad idea. Obama’s support for one such plan indicates that he isn’t above voting for feel-good legislation when it suits his purposes.
As far as his negative view of the gas tax holiday, I’m convinced that Mr. Obama has done the right thing by aligning himself with the country’s economists. Moreover, the best thing about his position against the gas tax moratorium is that it’s politically dangerous to resist a giveaway that’s being championed by an incredibly desperate rival.
That’s why Reich thinks he would make a better president than Hillary Clinton. I don’t agree, yet. But one more inane attempt to deceive and/or bribe Americans into voting for here could be the straw that breaks the camel’s back in regard to many people’s support for the former First Lady.