Lally's Alley: AMAZING

Tuesday, February 17, 2009

AMAZING

He's one of our youngest presidents.

He's been in office less than a month.

He inherited the worst economic crisis since FDR became president over three-quarters of a century ago.

But FDR did not inherit with that economic crisis a war. Obama inherited two wars along with the worst economic crisis since The Great Depression.

His opposition is virulent and disciplined and obviously out to see him fail (their spokesman Rush even saying that out loud on his angry radio show).

And yet,

and yet,

he signs into law today one of the largest and most ambitious pieces of legislation ever, intended to at least stop or slow down the bleeding of an economy in ruins from the policies of the previous administration (with the help of Phil Gramm in the Clinton administration's Republican controlled Congress).

Amazing.

3 comments:

JIm said...: The Pelosi, Reid, Obama bill that had to be passed without the promised transparency, was greeted by another drop in the stock market today. The market seems to think that the bill is lite on HOPE AND CHANGE for the better. So far we are down approximately 20% since election day. It sure feels like a Carter redux.; February 17, 2009 at 6:45:00 PM EST
Curtis Faville said...: The idea that the general economy can be "jump-started" by pouring money into public works is a fallacy.

The idea that by cutting taxes you can eventually balance your budget is also a fallacy.

The idea that by giving money to banks, engines of production can be created, is a fallacy.

We're on the verge of losing two out of three of our major automobile companies. Manufacturing creates jobs, and pours money into the economy. Banks don't. Banks profit from the money generated from production.

All service economy feeds off of money generated from production and distribution. The less money flowing in the economy, the less services are afforded.

If we want a healthy economy, with full employment, we MUST encourage production domestically. It can't be faked. You can't just borrow and borrow against an impossible eventuality. Bankruptcy looms.

The loom of bankruptcy. Creating devastation as a policy.

Fear.; February 18, 2009 at 10:08:00 AM EST
JIm said...: "The idea that by cutting taxes you can eventually balance your budget is also a fallacy."

JFK, Reagan and George W all cut taxes and tax revenues increased. JFK's tax cut was followed by the "Great Society" and Vietnam spending, wage and price controls of Nixon, stupid "Win Buttons" of Ford and total inepeptitude of Carter. Reagan's Tax Cuts were supposed to be matched with budget cuts which unfortunately never materialized from a hostile Democrat congress. George W's tax cuts were followed by stupid Republican spending increases and earmarks. As has been said before he was derelict in not vetoing Republican earmarks and spending. IE: The Farm Bill and probably the Medicare Bill.

It has been demonstrated three times in the last fifty years, that reducing tax rates actually increases govt. revenues. It has also been demonstrated that politicians of both parties spend too much in order to buy reelection.; February 18, 2009 at 10:17:00 PM EST