According to Reuters President-Elect Obama’s economic stimulus package will give New York 5 billion dollars to relieve it’s outstanding debt. Isn’t that funny? The national debt will be increased almost a trillion dollars from the stimulus package but it is OK, at least we are relieving New York of some of it’s debt. I mean, shifting debt around helps a lot.
I think the problem is spending, not the debt. The debt is a consequence of the spending. We must look at the spending if we want to solve this debt problem. Taking on more debt to help others with debt, that is simply insanity.
I have been telling people for a while that Obama will bring more economic hardship. Some said I am just being pessimistic, but that is not the case. His Keynesian economic policies will cause problems in a time when we need good free market economics.Published in