Timeline: Obama mortgages our future so he can have a 2nd term
According to the Congressional Budget Office (a non-partisan part of Congress that provides impartial analysis of pending legislation), the new stimulus package will do more harm and no good. Doing nothing would be preferable:
CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower Gross Domestic Product over the next 10 years than if the government had done nothing.
But hey… Obama won’t be President then will he.
This is some era of change. It sure is something new for politicians to be short sighted, career focused and happy to hose their grandkids.
February 5th, 2009 at 5:03 pm
I can think of a recent parallel to this situation: W invades Iraq and intelligent thinkers predict bad things afterward.
To accept that it is better to do nothing requires the kind of long-term insight that we and our political system do not respond to. As a people we favor action in response to problems, and we want our politicians to do something. They are responding in the ways they know. And until we adopt long range thinking ourselves, they will continue to respond to our demands for action with whatever seems likely to have some immediate impact. We have also shown a great willingness to satisfy our immediate wants while deferring the pain of paying for them to the future. Seeking the real culprits? Let’s look in our mirrors.
February 5th, 2009 at 7:02 pm
Thinking this bill sucks doesn’t require long term thinking.
This is, in fact, long term thinking on the marxist/facists part.
I wish they would all go away. They are ruining millions of lives for petty political gain.