Voters went for the hope-and-change Obama in part because he promised fiscal sobriety after the Bush $500 billion deficit. Instead, in utterly cynical fashion, Obama trumped that red ink four times over. In the process, he developed a terrible habit of promising favored constituencies a hundred billion here, a hundred billion there as if it were all paper money — rather than real borrowed currency that will have to be confiscated in the future from the beleaguered taxpayer. It only makes it worse that the more the administration borrowed, printed, and spent, the higher unemployment rose and the lower economic activity plummeted.
Most have had enough of pie-in-the-sky talk of massive new healthcare entitlements, cap-and-trade taxes and regulation, more stimulus, and more takeovers of private enterprise. The country is broke and the people want to pay off, not incur more, crushing debt. What got us into the mess was too much borrowing, skyrocketing debt, and reckless spending — not too many balanced budgets and too much lean government.
Thursday, January 21, 2010
Posted by macbeach at 12:24 PM