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Here you have two ordinary guys who say they are going to save the world from climate destruction (Waxman) and save the U.S. economy from falling into the abyss (Obey). How do you feel about entrusting them to restructure the entire U.S. economy and spend a trillion dollars or so of your money? You really should read Obey's blueprint for American Recovery and Reinvestment, just released today. It was written by politicians who think that throwing money at ideas, problems, and people will make the world a better place. It tries to justify everything by quoting the alleged conservative economist Mark Zandi, to the effect that "the economy is shutting down." It's all preposterous, and it's time to fight back. We don't need a massive Congressional spending boondoggle to save the economy. Just give it some time and stop trying to fix it, and the economy will solve its own problems in due course.
4 comments:
Despite the "do gooder" title, it smells of corruption, waste and inefficiency.
Why hasn't anyone proposed that the government spend less, maximize what it does spend, and let the private economy allocate the remainder of capital???
Bernard,
If I may, in answer to you question: because if there was less spending, maximization of spending, and allowing private economy to allocate its capital there would be no government employee available with the qualities of ability, smarts or incentive to do so. If anyone did have the necessary qualities, they wouldn't be working for the government. Politicians must have a crisis to justify their jobs.
Perfect article hinting at where we might be headed...
http://www.merkfund.com/merk-perspective/insights/2009-01-14.html
Bernard,
Thank you for the excellent article link. Looks like Marx's "Communist Manifesto" has clearly predicted and accomplished most of the 10 steps (Planks) to bring down Capitalism. I see "Capitalism" as the proverbial frog being slowly boiled to death without being aware of its pending doom.
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