NYPost: Obama's Stimulus to Ruin

It's hard to argue with this article from the NY Post this morning that Obama's new "$50 billion emergency stimulus" is nothing more than a continuation of his disastrous economic policies.

In the next week or so, Mayor Bloomberg and the City Council will finalize a $66 billion budget -- culminating a two-year spending increase of $3.4 billion, equivalent to 8 percent of city-funded outlays.

That's right -- for all the talk of Draconian cuts, the city has watched spending soar at well over the (negligible) rate of inflation, even as a grim recession has hammered local taxpayers.

Thank the "stimulus" bill of February 2009, which threw nearly $300 billion at state and local governments -- including $4.8 billion in operating cash for New York City.

All the "temporary" stimulus did was let the politicians off the hook: No need to make politically tough cuts to get the fisc under control; just keep increasing outlays as if financial bubbles would keep saving us forever.