Thursday, January 15, 2009

Dems unveil $825B in spending increases, tax cuts - Yahoo! News

Dems unveil $825B in spending increases, tax cuts - Yahoo! News: "WASHINGTON – Democrats in Congress rolled out recommended spending increases and tax cuts totaling a whopping $825 billion on Thursday and debated whether to release a huge new infusion of bailout cash for the financial industry, a rapid response to President-elect Barack Obama's plea to tackle national economic woes." That's about $3000 for every single person in America. I don't know for sure, but I'd guess we've spent $9000-$10,000 or more per capita before this. This is simply ridiculous. It's made out to be "adding" money to the economy, but really it is pulling the equivalent value out of the economy. Where did you think it comes from? For our economy to grow, we must produce more than we consume. Simply pushing dollars with no real production is only going to devalue everything. For some dumb reason, they (Obama et al) think that we have to do what FDR did but even more aggressively. This is going to push us just that much faster over the cliff!

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