Post by Gordon HughesPost by Rick SincereNews Flash! Economists disagree with Obama!
Some 200 economists have signed a statement declaring their disagreement
with the Obama administration over the proposed stimulus package. Their
statement appeared in today's New York Times as a full-page advertisement
http://tinyurl.com/cn2ubm
Contrary to President Obama's assertion not "all" economists agree that
government spending is the right way to end the recession.
-- Rick Sincere
http://www.RickSincere.com
http://www.cafepress.com/ricksincere
How many economists are there in the US ? Do we assume the others agree
with the action being taken.
You have heard the remark that " if all the economists in the world were
laid end to end they would not reach a conclusion."
Gordon
Isn't the Cato Institute a right wing organization that generally is
consistent with Republican positions? If so, I wouldn't expect them to
support Obama. I personally believe that the right kind of government
spending can help the country come out of the recession, but I do question
whether the "bail out" and the stimulus package are the right kinds. Too
much of the bail out funds have gone to the same people and organizations
that helped get us into this economic mess to begin with. Also, the Obama
Stimulus Bill has too much pork and programs that are not immediately
critical and pertinent to directly getting us out of the recession. The
total expenditures is enormous and will ultimately mean the printing of more
money and its devaluation (inflation). I certainly wish Obama is
successful, but I'm not too optimistic that this Stimulus thing will do it.
Besides, there's many other factors that have brought on the recessions
besides the banking and investment industries' shortcomings. For example,
IMHO, the following all contributed to our economic mess and, until
corrected, will continue to do so:
1. Outsourcing of good American middle class jobs ultimately eroded the
American consumer base.
2. Illegal Immigration.
3. Lack of a decent national health program and the exorbitent cost of
health care along with the great load this places on American employers.
4. The emasculation of necessary and effective government regulation. (The
Bush Administration sided with those opposed to proper government regulation
and we can see the result in the bank and mortgage mess.)
5. Washington politicians who favor and support big lobbies, big business,
and the wealthy before the interest of the average Joe. The Americans
voters must come to realize that they must vote out the incumbents in
Congress since they haven't done their job and frequently vote against the
interest of the people. I believe most have sold us out.
6. The national debt is growing to the point where it will have a strangle
hold on our national treasury and will dictate what we can or can't do
financially as a nation. We are already beholden to, of all nations, China.
(?)
These are just some of the factors that affect us currently. I'm sure you
can think of others. Much of the Stimulus package treats the symtoms but
not the disease.
Al