Obama Will “Rescue” This Economy No Matter How Much Further In Debt It Puts The Government
Obama’s been trying to pose himself as a fiscally conservative leader, but his true tax-and-spend identity is starting to bleed through as he claims that a government “rescue” of the economy (as if any such thing were even possible) is more important than budget deficits or the federal debt.
CHICAGO – The economy growing weaker, President-elect Barack Obama said Tuesday that recovery efforts will trump deficit concerns when he takes office in January. Yet he pledged a “page-by-page, line-by-line” budget review to root out unneeded spending.
The president-elect set no goals for reducing the federal deficit — now in record territory and headed ever higher — an obvious contrast to Monday’s announcement that he hopes to create a recession-busting 2.5 million jobs by 2010.
He spoke as he appointed Peter Orszag, currently head of the Congressional Budget Office, to be his own budget director.
Let’s remember our Reagan: Government isn’t the solution, it’s the problem.
Increasing government spending in a vain attempt to create jobs a la a resurrection of New Deal-esque policies (it didn’t work then either) without worrying about what that spending will do to budget deficits and the national debt is madness. Not only is government spending a terribly ineffectual way to create jobs (every government job is a burden on the taxpayers who actually produce things in the economy), it runs directly counter to the sort of policies that would actually create a lot of jobs and foment long-term economic stimulus.
Namely, lowering the tax burden and simplifying the tax code.
Rather than keeping tax burdens high, and the tax code needlessly complicated, we should reduce taxes and simplify the tax code so that businesses can focus the resources those things currently use up on expanding, hiring and turning profits.
