Bernanke Supports Second Stimulus Package

Bernanke Supports Second Stimulus Package

abcnews.go.com

Federal Reserve Chairman Ben Bernanke told Congress Monday a fresh round of government stimulus is a good idea because there's a risk the country's economic weakness could last for some time.

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Spending more money that we don't have is not the solution. When families come to hard times, they cut back spending and save every penny they can. The government has a hard time, they increase spending and print more money. Policies such as this is what contribute to the economic ruin and eventual destruction of the country.

abcnews.go.com
(visit the link for the full news article)

Don't get me wrong, I like free money as much as the next guy. But band-aids should not take the place of stitches (or even necessary amputations...). All the short term solutions in the world won't help in the long wrong. It seems this administration's only goal is to try and end on an up note so that the next president takes the wrap for the completely downfall of the world economy. I hope these two candidates know what they are in for.

It's funny to me that when proposals like this are brought up, the vast majority of the American populous realize what a terrible idea it is to keep spending money we don't have in these economic times, but when Obama proposes billions in new spending and increases in taxes, it's not a problem.

A second stimulus package is not what we need. For some reason government thinks throwing money at problems somehow fixes them.

If they really wanted to fix the economic state in the country right now, they would look at suspending capital gains taxes, slashing corporate taxes, and generally lowering taxes across the board.

New spending will fix nothing.

reply to post by nyk537


I do not see how lowering taxes will help the economy without also curbing spending? Decrease the money in while continuing to spend the same amount (or more) is still accelerating the rate of debt. This means more money is still being printed, causing the dollar to lose more value.

Agreed.

I suppose I should have mentioned that along with my initial thoughts there. Sometimes I make the mistake of assuming that everyone realizes that reigning in government spending is a must.



This is why I get so confused at how, especially now, people can think Obama's proposals if increased taxes and increased government spending are a good thing.

reply to post by nyk537


Okay, a misunderstanding on my side then. I wonder if downsizing the government is ever tossed around as a cost saving alternative up on the Hill? LOL, who am I kidding? Can you imagine congressmen getting a pink slip saying, "We have downsized and outsourced your position overseas. Sorry for the inconvinience."

I think it has been discussed, although not in that fashion, by Senator McCain.

He has mentioned several times about needing smaller government and less bureaucracy. In his economic outline he has mentioned eliminating unneeded and outdated government programs to free up budget room, as well as decreased spending, and tax cuts for everyone, including those "evil" rich people and corporations.

There have been many things I've disagreed with McCain on, but I think he has the right idea about how to fix our problems. I think he realizes that government is not the answer.