Sunday, December 21, 2008

Obama's New Deal in 2008

The New York Times: Reports on the Obama Economic Plan to get the USA through the Economic 9/11. As usual with Democrats they want to spend, nothing new, given how much Bush has spent on Wall Street and the Car Industry the Republicans cant say much, they voted with their President. The problem with the PLAN is that sounds like Roosevelt's New Deal. The flaw is that the New Deal did not get the USA out of the Depression, in fact it might have made it longer due to the fact that Western Economic system works best when the government is not the major share holder in the economy. It was World War Two that got the USA out of the Depression, we shall see if Obama can change his mind when this does not work, lets be honest he has two years then he start to run for re - election, also the Congress will be up for election, one can expect that the Democrats will lose seats in the House and Senate, thus Congress will want quick results, the economy does not work in that manner, lets see how long it takes for the Liberals in Congress to ask for tax hikes.

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