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$2,000,000,000,000.00 January 3, 2009

Posted by neoavatara in Economy, Politics.
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That is the possible ONE YEAR INCREASE in the national debt that is proposed so far for 2009.

Um, this is my response:

home-alone1

This is largely spurred on by Obama’s proposed largest stimulus plan in world history.    Now, believe me, there is general consensus that we need a stimulus plan.

But the irony is striking.  Reagan got lambasted (and still does) for increasing deficits in the 1980s, largely to fight the potential threat of nuclear devastation from the Soviet Union.  I guess, as far as liberals are concerned, nuclear Armageddon is not worth increasing the national debt.

Now, with the economy in the tank, it is o.k. to deficit spend.  Just listen to the media and pundits, such as Paul Krugman, the Nobel Laureate who was decrying deficits just a few months ago.  The hypocrisy is glaring.

I am not against deficit spending, as long as it is controlled.  What I am staunchly against is HYPOCRISY.  I think we should limit deficit spending to extremely rare events.  An intelligent man one said that you should only deficit spend during a war, recession, or other immediate crisis.  Well, Reagan was spending to end the Cold War; Bush to win the war on terror; and Obama to repsond to the recession.  I am o.k. with that.

The other irony of Obama’s response?  It will take until the end of the year to get most of the stimulus money out…at which time the recession may be over.

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Comments»

1. Ashley - January 3, 2009

The biggest problem I have with the whole thing is that congressional Democrats do not want to tell anyone where the money will go and who will provide oversight. As a tax payer, it would be nice to have the opportunity develop an educated opinion. I assume that this information is not made public for one of two reasons. Either because they don’t really know where it’s going or because they don’t want the public knowing. However, they will micro-manage your individual tax return. Talk about Hypocrisy! Typical government answer to everything, throw money and people at it. They would be better off giving us all a new American made SUV.

neoavatara - January 3, 2009

They are not telling us specifics about spending for two reasons. One, they really don’t know where the money is going. Second, they know if they tell us where the money is going, every lobby group this side of the Pacific will put up a fight for their own piece of the pie.


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