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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (456231)	2/13/2009 1:02:23 PM
From: combjelly	Read Replies (2) \| Respond to of 1574888

"If we got ourselves into this mess by borrowing too much, why try to get ourselves out of this mess by borrowing even more?" We got into this mess because our financial institutions engaged in risky behavior.

To: Tenchusatsu who wrote (456231)	2/13/2009 2:40:05 PM
From: tejek	Respond to of 1574888

Ted, > I railed at Bush for doing the wrong things which got us into this mess. I won't rail at someone who is trying to get us out even if he chose to be in that position in the first place. It can be argued that Obama is also doing the wrong things that will put us in an even deeper mess. True but its harder to claim he is playing from his book although many Rs will make that claim. From history, we know what Hoover did didn't work...cutting back spending and balancing the budget......even though that seems to make intuitive sense. So Obama is doing what many economists are recommending......stimulate the economy. And economists take that position because of what happened with Hoover....not because of ideology. That's the difference I see. Having said that, there is the danger that we have gone too far down the wrong road like many say and nothing will work. I don't know.....they may be right. Like I said, I strongly disagree with the notion that doing something is better than doing nothing. Even now, Obama's "success" in his first 100 days is based upon the mere passage of the stimulus bill, not what effect that bill will have. I don't think Obama has had any real successes. He is mostly not getting what he wanted and promised, and DC is as divided as ever. To me doing nothing is usually a bad gambit when things are in such bad shape. But then you may be right. Time will tell. As for being a "smart country," it doesn't take much "smarts" to ask this simple question: If we got ourselves into this mess by borrowing too much, why try to get ourselves out of this mess by borrowing even more? Maybe Bill Maher can answer that question? I think the short answer is that there is a difference in the quality of borrowing. Earlier this decade we borrowed to finance the wars in Iraq and Afghanistan. That borrowing did better to stimulate the economies in those two countries than this country's. The current proposed borrowing will stimulate the US economy.