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The plague of debt continues. Things are desperate in the Obama campaign. Jobs are bad. Unemployment still at 8.2%. The economy sucks. What do desperate people do when they are falling behind the eight ball? They spend more money...sort of like Stimulus money that never solved a thing. Pie in the sky--spend our way out of debt. Whoever thought up that one?Spending your way out of debt is like digging yourself out of a hole at Lake Worth beach. The more you dig, the more sand fills in the hole until your head is completely covered and you suffocate.
President Obama spent $16.4 million this year on online ads, twice as much as Mitt Romney. Does he really believe that we want more of the same?
Read about Obama spending small fortunes.
7 comments:
"...spend our way out of debt. Whoever thought up that one?"
That would be Bush 43 and his economic advisors,and every economist worth a damn says we didn't spend nearly enough. It's not "spend our way out of debt", it's saving a world economy. When private industry fails and income on such an enormous scale is lost, only govenments have the ability to reverse such conditions. It's rarely pretty but it does work, though recovery afterwards can take decades.... see Japan as a recent example. Without the actions taken by Bush and Obama, we'd be in a depression far beyond the collapse of 1931.
Now then... HOW we got to that point in 2008 is a result of nearly three decades of financial deregulation that the right still touts as the ONLY way out of this recession. Do you think repeating patently unsound economic policy is a good idea?
As to the obscene amounts spent on political campaigns, thank Citizens United.
And there are many economists who disagree with you and say that an essential requirement to a sound economy is balanced budgets with small government.
Yes, Keynesian solutions aren't the most elegant, but they're all most govenments have against economic freefall. Even my personal hero of the right, William Buckley recognized those values.
Note that I said economists "worth a damn" i.e., those recognized by their peers as the most accurate and most effective. The ones with world-wide credibility, maybe even a Nobel or two. Not guys like Arthur Laffer, Thomas Sowell and other proponents of so-called "free market" theory that is largely debunked as untenable. The former's policies as implemented by Reagan and his crew are largely responsible for how we got here.
BTW, that matra of "a sound economy is a balanced budget with small government"... how'd that work out under Bush #43? At least give credit where it's due.
It is a sin what they all spend, we need campaign finance reform and not allow this much money to be spent on campaigns and not to receive more than $25 per person and no businesses contributing, only individuals, this is crazy, all that money could be used to help the poor or bring down the debt. A huge sin! Shame on our government and elected officials.
Lynn, I just want to say thank you for always informing us and exposing the real truth here, I wish the newspapers and media were more honest and did't always have their motives when it comes to politics. Thanks God for your website and information, it is so helpful, much more fair and balanced, it is disappointing to see how ineffective our government and politicians are, how self serving they are. We all deserve better, top quality service from our leaders, instead we only get mediocrity at its best. Thanks Lynn for your blog!
Well, thank you anonymous above. Usually I have people coming over here wanting to bash my brains in. So, it is nice to get a positive reaction occasionally.
Lynn, you might not realize it, but the work you do with your blog, you attending all these meetings, and your sharing here is having a huge impact on our community and our world. We need to hold all these people in power accountable. Your blog does this and this is critical for our democracy and a better place to live. I applaud your courage and all your information on this blog. It helps me and many so much to question and make better and more informed decisions! Although we might not always agree, I do respect you for keeping this blog up-to-date and relevant to what is going on in our community and world. You should win blog of the year for Lake Worth! Thanks again Lynn!
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