The President-Elect's plan is wrong, Reaganite, and retrograde. It is very similar to policies which created a persistent depressed economy in Japan - and represents the next step to the Japanification of the American economy, where credit spreads are high and economic activity is slow, because any new money is used to pay off debts which should have been written off, but have not been.I thought he understood that we need jobs. Those without jobs need services, food, hope. Tax cuts for those who should be paying taxes instead of benefiting from the pain of others is perverted. Didn't Obama understand any of his own rhetoric?
Friday, January 9, 2009
Apparently not. Why, oh why, would Obama follow the same failed every-problem-deserves-a-tax-cut approach that the Republicans and BushCo used to get the country into the state it's in?