OhioNative

The Obama Fiscal Boost: Good First Bid, But Can the Administration Do More?

Quote:"We became the world's largest economy by pursuing greater market freedom than others. Countries with socialist "central planning" have failed. "

yes, countries with socialist "central planning" to the extreme, like say the USSR, etc have failed. But there are socialist countries that do just fine, they may not be at 5% or 8% growth, but they are at 2% to 3% growth (Say France, Germany or even the UK). No one is talking about creating a communist country in america. So this "Oh my god its the end of the free market" because Obama wants to spend is a little silly (though the bailout of companies DID impede free market liquidation, which wasnt an Obama thing...though obama and mccain voted for it).

The true issue is Obama wants to spend AND cut taxes AND rely on foreign creditors to finance "public works". This is very dangerous and could very well end up debasing our country's currency (and even hyper-inflation). We as Americans need to finance whatever it is we want to do (like we did coming out of the depression, we paid for all that with high taxation). If we cant pay for this spending with high taxation, then the government needs to shrink and become less of a burdeon, so then taxes can be lowered. There are no free lunches.


Quote: "We became the world's largest economy by pursuing greater market freedom than others. Countries with socialist "central planning" have failed."
We havent pursued "free market freedom" since the 1920s, Regan attempted to change some things, but then he spent up a storm and distorted the market flooding it with money (does a little deregulation here and some tax cuts there count as pursuing free market freedoms when you spend more and make the government bigger?). And every president since then has done the same.