Spendocrats at it again

Not even fully elected yet, Obama is already planning to out stage the Bush legacy by spending hundreds of billions (which means trillions in government terms) more to try to ramp up the economy.  I do have news that their plan is going to fail and Americans will have to pay the price ten fold.  It will take decades for this country to ever come back to the financial strength we once held.  We need market correction.  We need a recession to bring prices under control.  We need bankruptcies to correct mal-investments. But the socialists will not listen to reason.  Obama’s plan just like the Bush bailout plan will fail miserably.  If enacted an inflationary depression is sure to come, its just a matter of when and how bad at this point.  Of course more Americans could tell the government, “NO, dont do this!”, before its too late.  But not enough people care, and not enough people are educated in economics and monetary policy.  The result will lower the standard of living for most Americans.

Advisers would not discuss a specific size of the new economic plan, though economists have called for spending up to $600 billion to shock the economy back into a positive trajectory.

“I don’t know what the number is going to be, but it’s going to be a big number,” Obama economic adviser Austan Goolsbee said on CBS television. “It has to be. The point is to, kind of, get people back on track and startle the thing into submission.”
Obama also delved into one of the most pressing foreign policy issues facing his presidency, calling Afghan President Hamid Karzai by telephone and telling him that fighting terrorism there and in the region would be a top priority, Karzai’s office said on Sunday.

(http://economictimes.indiatimes.com/News/International_Business/Obama_seeks_massive_spending_to_revive_economy/articleshow/3748617.cms)

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  1. December 5, 2008 at 3:36 am

    I received a lot of spirited comments from the last post, so I thought I’d keep poking the bear with the stick. There’s an assumption going through the topic of Sarah Palin’s (non)relationship to the Alaskan Independence Party that works

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