Obama says aiding economy trumps budget deficit

So, this is how he plans to fix the economy - print more worthless money and spend, spend, spend his way out.

Of course, that also means he will need you to be patriotic and pay more taxes.

"The consensus is this, that we have to do whatever it takes to get this economy moving again, that we have to -- we're going to have to spend money now to stimulate the economy," he told the CBS television network's 60 Minutes news program.

"And (consensus is) that we shouldn't worry about the deficit next year or even the year after; that short term, the most important thing is that we avoid a deepening recession."

www.washingtonpost.com...

Emphasis added.


Consensus? From whom? His yes men?

lol, all this optimism about Obama winning and democrats taking hold. Let me just refer to my political quote of the month that "business is usual in Washington". for the topic let me just emphasize that we can't print up more money or go deeper and deeper into this deficit without backing up the new "funds" with hard resources and development. It'll be a cold day in America when this inflation catches up and our dollar plummets. Shouldn't be long before other countries wise up to this free fake money scheme. Lastly a recession can't be dug out of by increasing money in the markets, we need real production whether it's manufacturing, agriculture, tech, or developing the land which we've failed to do so far. Recession will be a depression.

Agreed. One way to create lots of new jobs and tackle another problem at the same time would be to start drilling offshore and in ANWR. At the same time, start building another 6 refineries, and build new nuclear plants. Work on more clean coal technology.

Many new jobs would be created. The energy companies would be investing their money, as would private investors. Small business would be spurred. Infrastructure rebuilding would be necessary and would be funded through the additional tax revenue.

Unfortunately, Obama has stated he is against drilling, against nuclear, he will bankrupt the coal industries, and he wants to create infrastructure jobs without funding them.

He does not understand that wealth must be created, not redistributed. I don't think they teach that in the socialist classes he took, though.

actually the Consensus includes top economists in Europe. They were saying about the same thing on BBC radio one morning on the way to work...

my answer back to Obama (and Bush) is simply this....
FINE AID THE FLIPPING ECONOMY!!!!!
But......for some reason throwing a ton of money around willy nilly preferably to your best of friends, with no strings attached, ain't making the grade!!!
want to help the economy, help the people pay their bills, redefine the terms of the arms and such. It's probably too late to help much now, but it's what should have been done to begin with, and it would have been alot cheaper!

but, oh ya, it's the free market economy, and there is such a "moral hazard" involved with all that........
like we all know the big bankers and traders on wall street are so much more "moral" than us little people, right?

yep i find it hard to blame obama ahead of time for a crisis long past fixing by the time he gets in. Sure i think some of his policies are complete disasters, but start the blame with Bush who took office after Clinton (who was our best president economically since Roosevelt), and then leaves office on the onset of a global replay of 1929. Is it a replay? check the graph
www.urbansurvival.com...

Yep go totally socialist, that would help, lol.

There is always going to be plenty of government jobs available, for gang stalkers. Spend, spend, spend.

The only people that cant see that Obama energy policy will fail is of course Obama supporters . I reckon that election season in both the US and New Zealand has played a big part in the idea that the impact of our economic woes can be reduced by spending more money . A bunch of greedy bastards on Wall ST have screwed us all no amount money can change that fact . I want to see investment infrastructure as much as anyone but a repeat of Think Big Projects isnt needed .

Note to the reader Think think Big projects was a series of infrastructure projects in NZ during the 70s - early 80s . The problem wasn't so much the concept of what could have been or was constructed rather the fact the projects were paid for by borrowing overseas all of which contributed to NZ economic woes at the time .

Spend, spend, spend today and make our descendants pay for our party tomorrow (like how social security works, ha). No wonder they think Obama needs this as he goes about implementing the NWO and making new enemies at home and abroad, LOL. What do these foolish corrupt politicians care about tomorrow, their celebrity rating status only depends upon appeasing those with their hands held out today. Buy your approval by handing out so-called free money. (barf) What a totally corrupt mess, all the way from the top down to the greedy little corrupt and bribable voters looking for their favors and kickbacks promised by these domineering dictators. What a corrupt and immoral mess.