The President’s “Jobs Plan” calls for another $400 billion dollars in BORROWING. Yes, that’s what you call it when you spend money now and say you’ll pay for it somehow over the next ten years. Oh, and by the way, exactly how does having workers and employers NOT pay into Social Security stimulate the economy? Isn’t Social Security going broke one of the major concerns causing insecurity in this economy? And how again does increasing unemployment benefits “stimulate” the economy since every dollar paid in unemployment benefits was FIRST taken OUT of the economy?
Sorry folks, but the lingering doubt about our Country’s ability to pay its bills is what is causing the economic slump in the first place. Smart people save, NOT SPEND, when the outlook for the future is bleak.
On July 3, 2008, candidate Obama criticized President Bush for increasing the national debt by 4 trillion dollars in his eight years in office. He said Bush added that “… all by his lonesome…. That’s irresponsible!” Well, during President Obama’s first two-and-one-half years, it’s up another six trillion with possibly another half-trillion coming. But NO president raises the debt “all by his lonesome.” It requires a spendthrift Congress too!
Wait until this fiddling around causes the dollar to go the way of the 1930’s Deutschmark. I think I’m going to convert my retirement savings into canned beans and keep them under my mattress!