Sunday, May 3, 2009

The US government is over stimulating

Albert Einstein defined insanity as doing the same thing over again and expecting a different result. Ronald Reagan said the nine most terrifying words in the English language are: 'I'm from the government, and I'm here to help."Congress and the incoming Obama administration are attempting to defy both these axioms by enacting yet another stimulus package in time for it to be signed into law on the day the President-elect is inaugurated. Obama has said he hopes the stimulus will create or save 2.5 million jobs and leading Democratic economists and lawmakers have said the plan will need to cost between $500 and $700 billion dollars to be effective. When added to the $150 billion stimulus plan Congress passed early this year, the $15 billion automaker bailout currently being considered, and the $750 billion financial rescue Congress has already passed, the Obama stimulus will bring the total amount of taxpayer dollars used to stem the economic downturn to at least $1.4 trillion .This spending is the result of a frenzy in which politicians and economists have continuously proposed additional government action to offset the failure of previous government programs.

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