Yes some of Obama’s top economists were “advising” and giving speaches to some of the banks credited for putting us under but where the hell do you expect to find the best economic minds of our time. Why is it so hard to understand that some of the smartest economists we have would want to make money off of what they know? That kinda plays into the idea of being smart, you make money.
As for spending “too much.” NO! If anything we are spending to little. Spending, whether we have the money or not is the only proven method for getting out of a depression. It wasn’t the New Deal that saved us, it was the even greater spending of WWII that did. Yes we are putting a tax on the generations to come but an even greater tax would be to immediately return to fiscal conservatisn, an action, that if it were to happen in 2010 or 2012 would surely prolong this depression even further.
What is necessary is the massive spending of WWII in public works programs and green technology minus the millions of deathes. Upon stabilization of the markets we must do what we failed to do in the past- return to fiscal conservatism, lower taxes and pay off much of the debt. Lastly regulation of the markets to ensure the end of short selling as well as mortgage backed securities to ensure that the dangerous excesses of the 1920′s or 1990′s-00′s don’t return.
And as for the that massive debt, as a member of the next generation who you feel oh so bad for, I am certainly willing to pay my share of it, and if it were to go as outlined above it wouldn’t even be much of a problem.
