Keynesian Economics haven't worked. Good news though, the White House has found Fiscal Conservatism

The left will forgive him if it helps to preserve the congressional majority in the Senate, and since the majority in the House is a lost cause, he’d probably be pushed by the GOP into doing something like this next year anyway. Might as well do it now and take as much of the credit as he can:

With the recovery faltering less than two months before the November congressional elections, President Obama’s economic team is considering another big dose of stimulus in the form of tax breaks for businesses – potentially worth hundreds of billions of dollars, according to two people familiar with the talks.

Among the options are a temporary payroll tax holiday and a permanent extension of the research and development tax credit, say people familiar with the talks who spoke on the condition of anonymity in order to describe private deliberations.
Permanently extending the research credit would cost roughly $100 billion over the next decade, tax experts said. And depending on its form and duration, a payroll tax holiday could let businesses keep more than $300 billion they would otherwise owe the Treasury.

Add that since some liberals like to remind us of how well Social Security is doing financially, there should be minimal screeching about a temporary revenue shortfall due to a payroll tax cut, no? But wait — what's this?
 
Worried about the fragile economy and their own upcoming elections, a growing number of Democrats are joining the rock-solid Republican opposition to President Barack Obama’s plans to let some of the Bush administration’s tax cuts expire…

“In my view this is no time to do anything that could be jarring to a fragile recovery,” said Rep. Gerry Connolly of Virginia, a first-term Democrat…
Another freshman Democrat, Rep. Bobby Bright of Alabama, said he would like to see all the tax cuts extended for two or three years, if lawmakers cannot agree on a more permanent plan…
Several Democratic candidates for Senate have also come out in favor of extending them all, including Robin Carnahan in Missouri and Jack Conway in Kentucky.

If Congress moves to extend the Bush tax cuts even for the rich, will Obama dare veto the bill at this point? Or will he break liberal hearts by going back on another oft-repeated campaign promise? We know that every campaign promise, thus far, has had an expiration date.  For the sake of saving the party this year, I don't see why he would stick to his promises now.
 
Two videos ephasizing that the economic team, up to this point, had NO IDEA what they were doing from day one.  Watch in the next few months as the spin on the Stimulus will be: we shouldn’t have sold the job-creation program known as the stimulus as … a job-creation program.  You can't make this up.
 
From last year; Christina Romer (now resigned from the Economic team) explaining how they had no clue how to handle the economy:


Anita Dunn making her case recently: