Perusing this Associated Press story about the Obama Trillion Dollar Socialist Expansion Scheme, this line jumped out at me:
If Congress fails to enact a big economic recovery plan, Obama’s advisers estimated that an additional 3 million to 4 million jobs will disappear before the recession ends. Obama’s team also noted that with or without the plan, the jobless rate by 2014 would be the same.
Hold on a minute? Does this mean that whether or not the money is spent, there will be an equally bad recession? Does this mean, we will have the same jobless rate without taking on an additional 6-8 Trillion dollars in national debt? If so, why take on that much debt to achieve zero result?
This is the kind of economic efficiency you get from a president who outspent his hapless opponent by 5-to-1, and still managed to win by only 6 points.
This enormous public expenditure isn’t to rescue the economy, it’s to socialize the economy. That’s why you don’t hear Chairman Zero talking, as politicians always have in the past, about a “return to prosperity.” There is no return to prosperity in the plan. Obama is planning for perpetual recession.
Second, I don’t think they intend to ever repay that debt. That’s why they are s cavalier about it. The endgame for the national debt is default. Congress is going nuts with the spending because they are like a man who maxes out his Visa before declaring bankruptcy.