Monday, January 05, 2009

Obama Stimulus Jitters

Is it just me, or are any other Obama supporters feeling a bit jittery about the magnitude and scope of the stimulus package that's currently being discussed in Washington and promoted by Obama?

I can understand the allure of a "New Deal" kind of stimulus movement; but the difference between 2009 and the 1930s is that we're much more stretched on credit now and, I think, approaching the breaking point. I sure hope Obama has a plan for fiscal solvency and sanity built in to this stimulus package proposal. And it wouldn't hurt if Obama did a little bit of spending cuts in the wake of his proposed tax cuts to offset the strain that this stimulus package will place on our already overmaxed national debt.

1 comment:

Eric said...

Yep, this problem has been apparent since early on in Obama's presidential campaign, and it is something he never addressed with any serious thought, at least not publicly.

It's a shame the GOP didn't have anybody running who could bring this issue to light without spontaneously bursting into flame.

My prediction: Obama will spend the money anyway, and it will be his political undoing. Bush was horrible on fiscal restraint, but it never hurt him much politically because there were never any real world consequences. I don't think Obama will have the same luxury, the people who lend us money are not likely to keep it up much longer, and we aren't anywhere close to being able to pay for our huge government without lots of charitable lending.