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Four Questions for Barack Obama

Submitted by Stephen Gordon on Wed, 03/04/2009 - 13:07
in

From CNN:

"It's time for this waste and inefficiency to end. It's time for a government that only invests in what works," Obama said.

The president said the country must "turn the tide on an era of fiscal irresponsibility so that we can sustain our recovery, enhance accountability and avoid leaving our children a mountain of debt."

Question Number One: If "it's time for a government that only invests in what works," why does it look like AIG may be receiving yet another "investment"  of taxpayer dollars because the latest bailouts haven't worked?

Question Number Two: If we are truly going to "turn the tide on an era of fiscal irresponsibility," on what did we just spend $11.6 trillion of our children's and grandchildren's inheritance?

Question Number Three: If "it's time for this waste and inefficiency to end," why wasn't it time for waste to end as late as yesterday?

Question Number Four: If we are to "avoid leaving our children a mountain of debt," why aren't we seeing the "change" we were promised?  The only change I see is an accelerated rate of fiscal irresponsibility which may ultimately lead to financial collapse.

 

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Comments

Good questions.

Submitted by T D Williams on Wed, 03/04/2009 - 18:50.

Think anyone from the MSM will think to ask them at his next press conference or in an interview?  Think CNN will?

To answer number one: AIG is

Submitted by In between on Wed, 03/04/2009 - 22:58.

To answer number one: AIG is basically too big too fail. It insures 74 million people around the world. It insures airlines and ships and everything in between. If they go down, everything else around the world would go down.

To answer number two: I don't know where you get the figure of 11. 6 trillion dollars that Obama is spending. That is the size of our debt which has been accumulated since our country began. Bush is responsible for at least 5 trillion dollars of it. While Obama has been careless on the budget, he did not create this crisis we are in. He can either bail out people or let them fail. But I would hate see the domino effect if all fails. We also have to make up for the past of not investing in our infrastructure, etc. This is not his fault either. And he has to find a way to cushion a possible depression. Obviously, he is not the only one, most other countries are stimulating their countries. And since we are in a recession, the deficit will be higher with more people unemployed and not paying into the system. So we have to find a way to fight the psychology of hoarding and not spending money, which is difficult as one loses his job. And if people do have money to spend, some of that money will go for Chinese goods, which will have less of an effect on our recovery. 

On the earmarks, practically all politicians like them. Just watched Senator James Imhoff (republican) and he said earmarks are less than 1% of the budget, defending his case.

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