Obama, in a speech made this morning at George Mason University in Fairfax, VA, on the economic crisis:
Now, I don’t believe it’s too late to change course, but it will be if we don’t take dramatic action as soon as possible. If nothing is done, this recession could linger for years…We arrived at this point due to an era of profound irresponsibility that stretched from corporate board rooms to the halls of power in Washington, D.C…There is no doubt that the cost of this plan will be considerable. It will certainly add to the budget deficit in the short term…It is true that we cannot depend on government alone to create jobs or long-term growth. But at this particular moment, only government can provide the short-term boost necessary to lift us from a recession this deep and severe. Only government can break the cycle that are crippling our economy, where a lack of spending leads to lost jobs, which leads to even less spending, where an inability to lend and borrow stops growth and leads to even less credit.
Only government can get us out of this mess? The mess that the government itself created? A background on the “profound irresponsibility” Obama mentioned: Jimmy Carter’s Community Reinvestment Act, which Clinton resurrected in the 90’s, which loaned money to people who were nowhere near qualified, aided by Chris Dodd, Jim Johnson, Franklin Raines, and Barney Frank; the very people who we are currently depending upon to get us out of the mess they helped create. So much for holding accountable those people who sanctioned and allowed predatory lending and victimized thousands of people. They retain their cushy positions.
Only government can get us out of this mess? By passing ANOTHER huge stimulus package? Didn’t we just do that? Twice? A $150 billion stimulus on top of the $700 billion financial rescue? Plus the $17 billion auto bailout? Weren’t those supposed to be “short-term boosts”? I wouldn’t exactly call them raving successes. The markets sure haven’t reflected favorably upon those supposed panaceas for our ailing economy. So, why exactly are we supposed to have another? And why the urgency? Obama said we’ve tried the wait and see approach. WHEN?
At no time in history has the government been able to effectively reverse a recession. Who in their right mind believes it will now?
As I stated in my last post, the economic crisis is being played up for all it’s worth because it is a boon for liberals and Democrats to advance their agenda. Free money. A (seemingly) bottomless pit of funding for the expansion of the federal government. Period. And trillion dollar deficits that will bring the US to its knees.
Remember: More goverment = less freedom.