I don't know. I don't know what'll work. On the one hand, fiscal conservatives say don't spend a damn thing... yet they were the ones who got us into this mess in the first place. Yet, they also were the ones that made Reaganomics work. On the other hand, fiscal liberals think the best solution is to throw lots and lots of money at the problem and make it go away. Massive government help is what characterized the New Deal of FDR and what got him elected four times. But I think the jury is out on whether that actually helped the economy since a war interrupted the experiment (and I think that's exactly the sort of history we DON'T want to repeat).
What I can say is that there is no one right solution. If there were, economists wouldn't have jobs. What I can also say is that people are suffering. They are losing jobs. They are losing homes. And we're long past the point where those losing jobs and homes are the ones who caused the problems. We're well into the period of serious collateral damage and even fiscal conservatives are starting to lose jobs and homes and retirements. Regardless of what solution works and what politics that solution derives from, it is up to the government at hand to make it happen.
In that, I'm somewhat optimistic that Obama is President. What I don't know about what he intends to do as President could fill an encyclopedia - heck, he's only been President a month. What I do know is that he is not jaded, cynical, nor a slave to party doctrines. I believe that he will do whatever he can to solve the problems of this nation. Whether that is ultimately good enough is something we shall all have to wait to find out.
I just hope that my i-conomy can survive until then.
2 comments:
I'm hopeful that his thinking will get us out of this mess, too, but I'm more concerned that Congress will flood the upcoming budget with more pork than is necessary, too.
This will be the true test - can he control his own party in Congress?
Well between the two sides of Congress having a pissing contest over the budget (like they did in California) its a wonder this country can pay any of its bills. I'd say, "Poor Obama," but he knew what he was getting into. He not only has to wrestle this nation out of some pretty serious holes, but he has to bust heads in Congress as well and make them start behaving like adults and not spoiled children.
I think the Presidency got made over in 2008. I'm expecting Congress to get the same kind of makeover in 2010. Incumbent might be a dirty word next year, no matter what party you're affiliated with.
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