A crisis too great to waste
So Barack Obama proposes massive government spending like we have never seen before as our way back to economic prosperity. Yet wasn't it a mountain of unpayable debt that got us into this financial crisis in the first place? The rivers of red ink he proposes would make FDR and LBJ blush. This approach may have worked politically for FDR and LBJ, but neither time did it work economically for the country. It may work politically for Obama too, but deficit spending will not work economically today either.
Banana republics are known for this kind of governance. It is a recipe for.....
posted by HeavyHanded at
4:52 PM
2 Comments:
Once again good intentions are wasted and the people will suffer longer. When will the lessons of history be learned?
By
ablur, at 6:57 AM
“The evil that is in the world almost always comes of ignorance, and good intentions may do as much harm as malevolence if they lack understanding.”
Albert Camus (French Novelist, Essayist and Playwright, 1957 Nobel Prize for Literature, 1913-1960).
And as 'George Dubya' said: "Good intentions aren't good enough."
HeavyHanded's axiom: History does indeed repeat itself in part because we don't learn from it the first time around.
By
HeavyHanded, at 9:22 AM
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