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10. July 2009, 19:56:08
Übergeek 바둑이 
Subject: Re: As for Obama
Artful Dodger:

In response to some comments:

> I don't trust him. I think all this stimulus crap will bite the US in the butt.

Entirely agree with this. Initially this stimulus package and the baiolout for the banks was put forth by the Bush administration at the end of 2008. As I recall MacCain and Obama interrupted their campaigns for one entire weekend to agree on how the stimulus package would continue after the election and both candidates pledged to release the 800 billion regardless of who was elected in the end. I think it is unsustainable. Releasing more money into the economy will fuel inflation and the money released so far has done nothing to slow down the rise in unemployment. More stimulus means a bigger deficit, and more unemployment means less tax revenues. The administration is a catch-22 situation. The solution is let companies fail and let the economy take the hit and start over. Saving banks, car companies and monopolies wil not help working class people or small businesses, and it is from those segments of the economy that the recovery will come in the end.

> One way to cripple America is to bankrupt her. That's where this huge
> spending President is heading.

The runaway spending started in 2001 when George W. Bush saw the surplus he inherited from Clinton as a license to print money. Then 9-11 happened and the was in Afghanistan and Iraq decimated the accounts balance. Both Bush and Obama have budgeted as if the 2000 surplus was still there. They have let Ben Bernanke talk them into giving so much money to banks that now tax payers are literally paying taxes to support banks that gouge their savings in the end.

George W. Bush is to blame for this. This situation was created before the election. I think Obama is making a serious mistake by playing the bailout game. If banks (car companies and others) fail to pay back the bailout money, then taxpayers will take the brunt of it.

> As to Al Frankin: ... The democrats disputed legitimate votes and the courts
> sided with the democrats.

Is it just me or does this sound a lot like the 2000 election? Back in 2000 the Democrats asked for a recount and lost. Now the Republicans asked for a recount and lost. So far the Reblicans are winning. They got a president, while the Democrats got just a senator!

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