One of the news articles I read (see below) made me wonder what you all think about all these bailouts that look like they really aren't working and for the most part have been a blank check to wall street. Also, the stimulus package that we had a few months ago and now another one probably on the way. The first one didn't do much if anything.
I'm thinking that if Congress keeps trying to spend their way out of a recession it's not going to work and make things even worse especially in the long term with inflation etc. I really think that instead of spending like crazy and bailing out everyone under the sun why don't they even consider or talk about cutting taxes by billions or even trillions? That could get much needed money back in the hands of the middle class and to corporations and these bailouts, that do not work, would stop.
I think it's time to try something new!
http://www.reuters.com/article/polit...4AG02G20081117
CHICAGO (Reuters) - The United States government should not worry about deficits over the next two years while spending money to jumpstart the ailing economy, President-elect Barack Obama said in a television interview that aired on Sunday.
Obama, a Democrat who takes over from President George W. Bush, a Republican, on January 20, said consensus had emerged between economists in both major U.S. political parties that expensive measures were necessary to avoid a deep recession.
"The consensus is this, that we have to do whatever it takes to get this economy moving again, that we have to -- we're going to have to spend money now to stimulate the economy," he told the CBS television network's 60 Minutes news program.
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