The Obama administration will continue throughout the summer to proclaim that things are still on track. The stimulus, along with their entire domestic agenda, they will claim will work. All we need to do is give it more time. In reality, we will all be following the administration off the economic and financial cliff.
Our deficits are unsustainable. That's not me saying it. That comes from the administration themselves. Does anyone really believe that we will get anything but red ink for our money. There's absolutely no sign or evidence that stimulus will stimulate anything but allies of the Democrats. There's money for non stimulative projects like smoking cessation, renovating John Murtha's airport, and numerous studies of the prostitution industry. (just to name a few of thousands) Most of the money won't even be spent this year.
Meanwhile, the President's plan to save millions from foreclosure is FAILING MISERABLY. The administration's plan to remove "toxic assets" was originally valued at $1 trillion and now it's worth $30 billion. Meanwhile, the government is now an owner in two auto companies, an insurance company, and several banks.
While our economy disintegrates, the president is busy trying to combat climate change. He claims that universal health care will end economic cycles. Does anyone really believe that universal health care will stop the laws of economics?
Even if we ever get out of this recession, we'll all then have to deal with the consequences of massive deficits: high inflation, high interest rates, and a weak dollar. Do we all really want to sit back and wait for this economic disaster to unfold? Obama's economic policies have been tried and failed all over the world: from Japan to Britain to the U.S. Each and every time the government spends out of a recession it leads to economic disaster.
We are headed for economic stagnation at best and economic stagflation at worst. Those are the only two results from massive government spending and borrowing. Just ask the Japanese in the 1990's and the Brits more recently. The question is does the country stand by and let this administration drive the country off a cliff, or do we demand a reset on their domestic policies.
Please check out my new books, "Prosecutors Gone Wild: The Inside Story of the Trial of Chuck Panici, John Gliottoni, and Louise Marshall" and also, "The Definitive Dossier of PTSD in Whistleblowers"