Ronald Reagan said:
The nine most terrifying words in the English language are, "I'm from the government and I'm here to help".
Now we have another set of politicians who want to "save" us. President Obama has stated on several occasions that " only government " can fix this economy. The problem is that government is responsible for much of the mess in the first place. And, sadly, this crosses party lines. While I admire the efforts of the Bush administration on terror ( even with the problems ), the endless spending over the last few years has eaten away at a once growing economy. Government banking rules going back to the Carter administration ( the REAL worst economy in the last 50 years - I lived through it ) that encourage lending to millions who couldn't afford the payments, and ridiculous spending on projects around the country that are used to get the current congressman/senator re-elected. And today, a "stimulus" bill was signed that will give us a deficit of over 1.5 Trillion dollars for this budget year. What's worse, right before the signing, the President commented that we may need a SECOND stimulus bill later. It seems to me that they already know that the first one will fail.
Spending wildly cannot solve a budget crisis. If you think it can, try this: take all of your credit cards and divide them among your family members and tell them to spend like there's no tomorrow. Just don't tell them that you're leaving the bills with them. And their great-grandchildren.
This whole rush to pass the stimulus reminds me of the old used-car ploy. You are looking at a car. It looks good, but you want to go home and think it over. The owner says "You need to decide now - I have another person coming later to buy that car". You leave. Weeks later, the same car still sits there gatering dust. You come to find out there were huge problems with the engine that would have cost a fortune to repair. Only time will tell if this "used car" is going to roll us over a cliff.
Tuesday, February 17, 2009
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