|
the people in charge today, particularly bernanke, believe the great depression was extended because the govt did not do enough. i hear this over & over from obama, that we will do everything possible to keep the economy from crashing.
that sounds sensible, especially if GM is able to do something new & make a car people want to buy. But when details of bailouts come out, like million dollar bonuses for AIG, billions transfered to foreign banks to repay loans that are not in default, & Wagoner is getting a 20 million golden parachute, i fail to see how bailout money that is staying in rich peoples pockets is going to help the economy. It looks like a robbery instead.
Watching obama fire a private sector CEO & guaranteeing auto warranties makes me feel the govt is in territory it does not belong in. This is not a socialist economy but it seems like it is becoming one. When in my lifetime will we have a ruling class that says no to spending public money? That says senior citizens will not get social security? that local & state governments cannot count on federal dollars to keep their own finances afloat? That the pentagon cannot have 96 weapons programs, 70% of which are way overbudget & years overdue? & that banks who cause trillions in losses should have those losses covered by taxpayers?
America is spending itself to oblivion. & its very troubling that Obama appears to be to the left of Old Europe on this matter. When Germany & France, the ultimate in welfare states, is telling us we are spending too much, holy shit. Do we really want 60 - 80% tax rates in this country?
|