Monday, February 16, 2009

The Reality Of The Stimulus Bill

(With a hat tip to Common Cents for the video in this posting)

Please pause the PlayList on the right sidebar before watching:

Some reading is below the fold.

Just as with the Titanic, our leadership is proceeding with full steam ahead toward diasaster.

From this article in the Washington Times:
President Obama's economic recovery package will actually hurt the economy more in the long run than if he were to do nothing, the nonpartisan Congressional Budget Office said Wednesday.

CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower Gross Domestic Product over the next 10 years than if the government had done nothing....
Nevertheless, our leadership of the moment is claiming victory and calling the bill "a major milestone on our road to recovery."

What else are President Barack Hussein Obama and his adherents planning? Even more of the same, apparently:
"This historic step won't be the end of what we do to turn our economy around, but rather the beginning. The problems that led us into this crisis are deep and widespread, and our response must be equal to the task."
Read the entire article.

More icebergs ahead! And those at the helm are proclaiming "Victory!" even as they are ignoring the realities and the warnings.

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posted by Always On Watch @ 2/16/2009 05:00:00 AM