Sunday, December 7, 2008

Obama: "Economy to Get Worse Before It Gets Better"

President-Elect Obama appeared on "Meet the Press" this morning where he proclaimed: "...when you think about the structural problems that we already had in the economy before the financial crisis, this is a big problem, and it's going to get worse." He reiterated the idea later saying, “Things are going to get worse before they get better.”

And he is probably correct.

The only problem is that this comes one day after his "bold" stimulus package (see post below) where he promised to use a public works program to stimulate the economy. So what is the truth? The economy cannot be repaired by the government or Obama has the answers?

Mr. Obama is in no position to be envied under the current conditions but it would be nice to hear something a little more upbeat from the man who will assume the Oval Office on January 20th.

Later in the interview he added, "We've got to provide a blood infusion to the patient right now to make sure that the patient is stabilized. And that means that we can't worry short term about the deficit. We've got to make sure that the economic stimulus plan is large enough to get the economy moving," he said.

Why can't we worry about the deficit? What happens when the government runs out of money and things still have not improved? Again, is it going to get worse or is the Obama Plan going to "get the economy moving?"

Only time will tell the truth, but Obama and Congress need to stop contradicting themselves saying they are not going to throw money on pork spending while simultaneously talking about a plan that is "large enough" to stimulate growth! “You know, the days of just pork coming out of Congress as a strategy, those days are over," Obama said.

Huh? Isn't that EXACTLY what you are proposing?

Adding further chaos, Obama commented on the mortgage crisis, saying “I'm disappointed that we haven't seen quicker movement on this issue by the administration. We have said publicly and privately that we want to see a package that helps homeowners not just because it's good for that particular homeowner; it's good for the community."

Again, helping homeowners who purchased houses they cannot afford is what helped create this mess in the first place. Let's not add fuel to the fire; I'll burn my money in my own oven, thank you.

Enough with the bailouts and government pork and "stimulus". Lower taxes, reduce capital gains taxes, eliminate the "death tax"! Give THE PEOPLE and THE COMPANIES their money back and the government will not have to loan it back to them!

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