Saturday, January 17, 2009

New, New Deal same as the Old, New Deal (only worse!)

The Obama stimulus plan, now soon to be bolstered not just by the $825 billion he wants, but by the control of the 2nd half ($375 billion) of the TARP bailout money, will be so rife with good ol' boy pork projects that it will put at the absolute minimum 600,000 people to work in the federal government. Making, as I've pointed out here before, NOTHING that can be sold/exported. It is a recipe for fiscal disaster and long term diminution of the American brand.

By 1939 Roosevelt's own Treasury secretary, Henry Morgenthau, had realized that the New Deal economic policies had failed. "We have tried spending money," Morgenthau wrote in his diary. "We are spending more than we have ever spent before and it does not work. . . . After eight years of this Administration we have just as much unemployment as when we started. . . . And an enormous debt to boot!"

Those who fail to learn from the mistakes of their predecessors are destined to repeat them.

I don't think we realize what's going to happen with a Democrat President, Democrat Senate, Democrat House of Representatives, and Democrat majority of Governors. 1.2 Trillion dollars to be spent by like minded big government politicians with no controls, no oversight. When these folks get together in a room to divvy this money up they'll be lighting cigars with million dollar checks and the corruption is simply going to go out of sight.

This is very, very scary and makes me terrified for the future of my children and their future children. One party rule and taxpayer money - a sure recipe for disaster.

1 comment:

Anonymous said...

If the cost of the average job being created is $250,000 in this so-called stimulus package, wouldn't it be better to spend more instead on AmericCorps and Peace Corps kind of jobs -- or boosting military pay to attract more volunteers? Whaddyathink?