Did I miss something?
Ok, so Obama had a press conference the other day. Now supposedly his economic team is looking for government programs to cut. Program that are not working as he put it. Doesn’t that cover almost all government spending. I name one thing that has really been helpful to everyone, isn’t that what the socialist mantra is. So we should a cut in spending under Obama right. Wrong. He also said he would reduce the deficit spending once the economy has recovered. I do not see the economy recovering for a very long time or possibly not at all, at least not without major change to the monetary and banking systems. The fraction reserve method of banking will have to go away and the a return to a gold backed currency is necessary for the economic crisis to be averted. From my very unlearned perspective the government will not be able to buy their way out of this one. But wait there is more. Do not forget that Obama want to nationalize health care. How much that will cost remains to be seen, but I can assure you that it will cost more than they could possibly cut. That coupled with any other socialist programs that Obama wants to implement and a spread the wealth tax on the rich should be enough to keep Obama’s economy on the down side for his administration. I suggest that you all get ready for a wild ride. Maybe we can make a move toward a real free market economy once the Obama people manage to make a hash of the economy and the deficit and the national debt. We shall see.
Any way so what did miss. Tax the rich to spend for the poor and still cut somehow. How exactly is that possible?
