Now that Obama administration has begun and Congress is in session, I am worried by what I have heard from these two branches of government. The 1 TRILLION dollar "stimulus" package will not stimulate anything. It is another big government spending spree and pork barrel projects.THE GOVERNMENT CANNOT SPEND US OUT OF A RECESSION!!!
Despite what history teachers or what you may have learn in school, the FDR's New Deal did not get us out of the Great Depression. The US did not get out of the Depression until World War II had started, as you can see by these graphs.
As you see, the unemployment rate under FDR did not get below 20% until 1941 after we had began to shift to a war economy.
All the propaganda that we have heard our entire lives about how great the New Deal was is totally false.
That may be a surprise to most of you.
Now, let us look at what happens when you CUT TAXES and CUT SPENDING! Look what happens after the evil Bush tax cuts.
Every important economic indicator went up! GDP, Investment, S&P 500, JOB CREATION! I was part of that. I started my company in 2002 and added 5 jobs to the economy. Since the election, I have had to cut my staff by 40%!!!
Government spending is not the answer. We need to cut taxes AGAIN! Every time that Congress does it. The economy gets better! Income rises! Receipts to the government increase! Government is not the solution. It is the problem. Remember, the reason that we are in this recession is because Congress did not do their job in properly overseeing the Fannie and Freddie. They pushed risky loans on lenders. And, when the Congressional Republicans tried to fix it, the Democrats (Barney Frank and Chris Dodd) shot every reform down.
Now, WE, the taxpayers, are stock holders in Bank of America and other financial institutions.
No where in the world has socialism (and that is what this "stimulus" is) has ever worked.
Name me one country.......................................................................................................................
I am waiting........................................................................................................................................
Good thing I did not hold my breath!
I do not want President Obama to succeed if he implements the policies that he espoused in his campaign. There are over 53 MILLION people that did not vote for him and his policies. I will support President Obama if he cuts taxes and reduces government spending.
But, I better not hold my breath.
