Have to share a little "discussion" I had on the Boortz forum:
Me: This guy himself ignores that if money is kept in banks, it is there for reloaning! Good for the economy. Paying down your personal debt means you then have more disposable income to spend. Again, good for the economy.
He also seems to think we shouldn't be concerned because all the stimulus hasn't been spent yet. He has no ability to project into the future and see trouble ahead, just the now is all that is important. Oh we're borrowing it from China, it's not like it's coming out of OUR pockets.... Now show of hands, even if the economy gets stimulated, do any of really think it'll be enough to pay back the stimulus, bailouts, multiple bailouts and corporation grabbing, cap & trade rebates and incentives, health care? Any one?
Oh it gets worse:
However a lot of economists believe that increased government spending helps the economy in times of slow economic growth, or a recession.
Obama and his team clearly believe this. Time will tell if this is true or not. On the other hand, some economists are saying that the stimulus package is not large enough to have the desired impact.
Obama has pledged to cut the deficits over time. My hope is that the economy turns around soon and that Obama does cut spending over the next few years...(but I'll believe it when I see it).
Me: And a lot of economists don't believe increased spending will help. Some even think that it will make things worse. Like the CBO. But I am sure that "Obama and his team" believes it and would love to do a bigger stimulus.
And yeah, Obama has pledged to cut the deficits over time. He also has said he does not want to run banks, does not want to run car companies, so it always worries me when he says he does not want to do something. I'm looking out the window to see the next rollout of something he does not want to do.
And all the while, insulting me like *I* am the idiot!