Today, The Wash Post is cautiously optimistic about the "stimulus" and quite concerned about the deficits ahead:
"The nation can't sustain trillion-dollar deficits without driving up the debt owed to private investors to dangerous levels that could undermine the nation's global economic dominance."
That's right!
This is why the "stimulus" is such an insane idea. Why blow $800 billion on something that may or may not have much of an impact? It's an awfully expensive "try" considering that there are so many other things on the table, such as the banks, the auto industry, etc.
The stimulus is like giving an aspirin to a guy who just broke his ankle. It may release a bit of the pain but he still needs an operation.
"The fiscal fantasies of Hope are about to slam head-on into the economic realities of the bond market.
Economic reality is an unmovable object, and liberals are about to discover that Hope is not an irresistible force."
It's going to be very nasty for Pres Obama.
I just hope that the "yes we can" screamers prepare themselves for a hellish presidency.
They have about 6 months of "everything is Bush's fault" or "I inherited this".
They may not even get 6 months! The public is in no mood for a president who wants to blame his predecessor.
They would rather see a leader, like FDR in '33 or Reagan in '81!
Do you recall FDR blaming Hoover or Reagan blaming Carter? In fact, Reagan and FDR "inherited" far more difficult economies than this one.
By Thanksgiving, this is going to be Pres Obama's economy, and specially the deficits!
When will Pres Obama call Sen McCain to switch jobs?
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