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Politics : President Barack Obama
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To: Bread Upon The Water who wrote (50189)2/8/2009 3:32:28 PM
From: geode00  Read Replies (1) of 149317
 
That is the GOP argument. Make a short term fix to the economy and then, when things begin to recover in 2010, have debates about things like health care and social security and the like.

We have already been there. This would simply be a continuation of the last 8 years. This is what McCain would be doing if he had won, the country needs something radically different.

If these things had worked we wouldn't be in this mess. It is time to try something else.

This isn't a business cycle problem, there is structural damage to the economy. The 'banking' system is a mess, is likely insolvent by several trillion dollars. I believe Geithner is set to release a new plan for dealing with that mess that will make the bailout look small. This is serious business.

IMO I see big ticket items like health care, social security, infrastructure and taxation as an integral part of recovery and sound economic growth for the future. I think they are related and without making big changes we are simply setting us up for another nasty bubble this time based on government spending in the form of bailouts and outright shopping. We have bubbles about twice a decade and we are running out of ammunition to deal with them.

We may not have another opportunity to have the political will (based mostly on economic terror) to make these really big structural changes to our economy. We cannot afford to miss this opportunity now.
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