Just to play devil's advocate, I'll throw this on the table:
Someone (an economist?) expressed their opinion on NPR a few months ago, and he said that the reason Roosevelt did not pull America out of the Great Depression sooner was because he didn't spend enough money to stimulate the economy. The only thing that motivated Roosevelt to spend enough government money to save the American economy was our country's entry into WWII.
I don't understand all of the intricacies of politics and I'm not an economist. I agree that Obama's spending seems like an obscenely large amount of money. But at the same time, maybe government spending is the only way to pull the economy out of a rut?
I don't think either of the current political parties can claim that our huge debt load is caused by the other. It's the result of many years of govt waste, inefficiency and overspending.
Since Obama is the current president and his method of paying for things is more debt or taxing the wealthy, I'll ask this question:
If you keep charging the "rich" for every new program, at what point will they A: No longer be rich enough to pay; B: Stop wanting to be rich so they don't have to pay; or C: Stop investing any money in new ideas and products (and creating jobs) because they are too busy spending their money on taxes?
I do admire Obama's willingness to challenge the status quo, but I'm unsure about his methods for financing it.
2 comments:
Just to play devil's advocate, I'll throw this on the table:
Someone (an economist?) expressed their opinion on NPR a few months ago, and he said that the reason Roosevelt did not pull America out of the Great Depression sooner was because he didn't spend enough money to stimulate the economy. The only thing that motivated Roosevelt to spend enough government money to save the American economy was our country's entry into WWII.
I don't understand all of the intricacies of politics and I'm not an economist. I agree that Obama's spending seems like an obscenely large amount of money. But at the same time, maybe government spending is the only way to pull the economy out of a rut?
I don't think either of the current political parties can claim that our huge debt load is caused by the other. It's the result of many years of govt waste, inefficiency and overspending.
Since Obama is the current president and his method of paying for things is more debt or taxing the wealthy, I'll ask this question:
If you keep charging the "rich" for every new program, at what point will they A: No longer be rich enough to pay; B: Stop wanting to be rich so they don't have to pay; or C: Stop investing any money in new ideas and products (and creating jobs) because they are too busy spending their money on taxes?
I do admire Obama's willingness to challenge the status quo, but I'm unsure about his methods for financing it.
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