Friday 27 February 2009

President Obama's Budget: What Budget?

So President Obama's brilliant idea is to solve America's economic woes by getting into more debt. Has he lost his mind. It was debt that caused the trouble in the first place. How is setting America up for national bankruptcy going to solve the problem. Throwing tax payers money at institutions that have steered their way down an economic toilet will just make things worse. They'll only do it again. This is no time to try quick fixes to somehow rekindle past glories. People should understand that there may be hard times ahead and make adjustments accordingly. The economy will get back into shape when entrepreneurial types seize opportunities and start rebuilding. But for these people to get going there needs to be an incentive. Raising taxes does not help. Bailouts for organisations that offer things that nobody really wants are pointless. If a company is lame then it should fall and be replaced by one that is up to the job. America should look to the long term if it wants to get back to the good times. Obama just wants another four years.