Mon 2 Mar 2009
The Obama debt
Posted by Dragonfinger under General, Politics, Social
[2] Comments
The media made Obama the savior of the world. The media agrees and praises everything he said. The multi-trillion budget which the US government will spend whatever they do not have to buy up failing banks, insurance companies, auto-makers, etc. is considered good government policy. The democrats preached against Wall streets, big banks, or any big businesses are bad for the poor people. They are the ones who are subsidizing the big guys now. People forget that US already has multi-trillions of debt before this recession. The extra debt will be added on to the existing debt. Does his administration really know how to handle the debt bomb?
March 5th, 2009 at 12:32 pm
I agree.
I challenge this mad spending to “pull us through”. I believe it will backfire
Ian
March 8th, 2009 at 7:33 pm
In a word: no. But debt and the “Market Economy” are about the only things Democrats and Republicans both agree on. They want to revive a dead economy rather than make any of the fundamental structural changes that not only they but the majority of Americans appear to be in denial need to be made.
There is no stopping the inevitable crash no matter how much (worthless) money is thrown at it, and we can only pray that communities will come together to see each other through the hard times ahead.