Wednesday, January 27, 2010

So much for stimulus. This speech is a disaster from how I see it.

Some points he made:

"the Senate should convene tomorrow and pass pay-go"

Great! Let's go back on the gold standard while we're at it too!

"American families are tightening their belts. We (the government) must do the same."

That's because American families are not curreny issuers, Mr. President. The Federal Gov't is.

"We need to produce more goods and sell them abroad. This is how we will create jobs."

No, this is how we will send more and more of our product to foreigners so they have the benefit, while Americans use their newfound earnings to live meager, subsistence lives. That's what export economies look like.


gilcelia said...

James Galbraith was on MSNBC saying it was a great speech and that he thinks that the important thing to take from the speech is that the #1 priority is to create jobs.

gilcelia said...

Also, quite interestingly, when asked about obama's early press release about the spending freeze Galbraith said it was in order to deflect the senate from enacting a statutory commission to fast track cuts to medicare an social security that was apparently in the works.

mike norman said...

Galbraith has been a tireless cheerleader for Obama. I know that personally, he is very frustrated, but he continues cheerleading. I didn't read it so positively. It's one thing to say that your priority is to create jobs, but you must have a plan and given the economy's current condition the plan should be a big, bold one. I just didn't hear that.

mike norman said...

Yet Obama himself said he would issue an executive order to institute the commission.

mike norman said...

Wondering if Galbraith heard the president tell Congress to pass "Pay-Go" tomorrow!

Mike Sandifer said...

You mean "muddle through" isn't bold?

bubbleRefuge said...

Even worse. I heard McCain and Evan Byah want to push for a balanced budget amendment to the US constitution. If this ever gets any traction, it will be time to leave this country.