President Obama Continues Scaring Americans Into More Debt

by Stephan Tawney on February 5, 2009

The message from the White House to Americans is now clear: Either spend upwards of $1 trillion for no guaranteed results or we may be never recover. You see, without $50 million for the National Endowment for the Arts, $6 billion for university building programs, $600 million for a heritage trail in Mississippi, $650 million for digital tv coupons, and hundreds of thousands for dog parks, we’ll simply be stuck in a recession forever.

WASHINGTON – President Barack Obama warned on Thursday that failure to act on an economic recovery package could plunge the nation into a long-lasting recession that might prove irreversible, a fresh call to a recalcitrant Congress to move quickly.

In an op-ed piece in The Washington Post, the president argued that each day without his stimulus package, Americans lose more jobs, savings and homes. His message came as congressional leaders struggle to control the huge stimulus bill that’s been growing larger by the day in the Senate. The addition of a new tax break for homebuyers Wednesday evening sent the price tag well past $900 billion…

Obama painted a bleak picture if lawmakers do nothing.

“This recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse,” Obama wrote in the newspaper piece titled, “The Action Americans Need.”

We’ll never be able to recover? Really? We were able to recover from upwards of 36% unemployment in the 1930′s. We were able to recover from 27% unemployment — the level a full 5 years after FDR’s first New Deal. But if we don’t spend what a plurality of Americans and many economist say we shouldn’t, we’ll be forever stuck in recession.

He rejected the argument that more tax cuts are needed in the plan and that piecemeal measures would be sufficient, arguing that Americans made their intentions clear in the election.

“I reject these theories, and so did the American people when they went to the polls in November and voted resoundingly for change,” he wrote.

First of all, they voted for Obama by a margin of a few percentage points. Second of all, I don’t recall Obama campaigning on spending an untargetted $1 trillion+ on a pork-laden spending bill. I don’t remember that one the ballot.

Both Democrats and Republicans in Congress have become increasingly worried about the size and timing of the spending. Many-an-economist says we don’t need this. And a plurality of Americans oppose it. Yet Pelosi, Reid, and Obama will do their damndest to ram this crap sandwich down our throat. Because they simply know better, silly. They’re elitists.



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