We’re spending trillions on both a stimulus that isn’t stimulating and a (so far, potential) co-opting of the health insurance industry.  And President Obama has the gall to say this:

President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if government debt were to pile up too much, it could lead to a double-dip recession.

To whom was he giving this "sternest warning"?  His own party, with his own approval, has been doing this! 

"It is important though to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession," he said.

"If I don’t stop doing this, I’m grounded!  I’m serious!"

So spending hasn’t fixed anything, and it looks like maybe, just maybe, the fella’ may yet have some sense in him.

His administration was considering ways to accelerate economic growth, with tax measures among the options to give companies incentives to hire, Obama said in the interview with Fox conducted in Beijing during his nine-day trip to Asia.

Tax cuts spurring employment?  Who would have thought?  Well, conservatives have always thought that, but besides them?

Related posts:

  1. "Put Your Hand in the Hand"
  2. The Standard & Poors Downgrade
  3. Taxes in a Recession
  4. Borrowing Our Way to Prosperity
  5. Not the Kind of History We Should Be Making

Filed under: Doug • Economics & Taxes • Government

Like this post? Subscribe to my RSS feed and get loads more!