We May Yet Escape a Second Stimulus
July 10th, 2009 | 
Author: The Obama Administration seems to havebacked off on their reactionary attitude slightly. Its not much, but at least its something. The first stimulus was devastating to our dollar value and debt, a second would have been a disaster.
Obama always has been quick to change his mind. I think he may have seen the evidence int eh world summit that continued spending has not fixed Europe. If only he would see the same thing about Cap and Trade. The environmental aspects of the summit were still jsut as ridiculous as always, although they at least made it more talk than reality, agreeing to drop emmissions by 80% over the next 40 years but not lining out any forced methods for doing so.
With fuel prices dropping in light of the decreasing demand, it is possible that the economy may recover slightly. My concern is that, if it continues to tank as I expect it to, the second stimulus will be put back on the table, driving nails into a nearly shut coffin.
Either way, the pace with which Obama’s administration has been pushing things through has caused huge issues. Even if the actions were acceptable, the speed is not. That is what checks and balances were supposed to prevent. Too bad those are being ignored. Obama is pushing forward with powers that were granted the executive branch under Bush. I only hope that his supporters wake up in time to realize that he is not only doing the wrong thing, but weilding too much power and doing things too fast.
Hopefully, the change of heart on the second stimulus is a sign of Obama slowing his agenda to a more realistic level. Its still a crappy agenda and spells trouble for this country, but I could use a little breathing room. I don’t even have time to write about all the things I disagree with, because things are moving so fast that I can only hit the high points.
Lets hope this slowdown continues….
Posted in Current Events, Economics | 
Tags: cap and trade, dollar, inflation, second stimulus, stimulus, taxes
I agree that Obama has been addressing/discussing issues at a pretty fast clip, but I don’t think the country has done any substantial shifting. We’re not going to be out of Iraq for a couple years (at least), health care hasn’t been passed, environmental progress is slow relative to other countries, and so on.
We have been substantially shifting for a while, mostly in the financial arena. The level of corporatist/facist attitude in the government became evident under Bush’s administration, and it has continued at a greater level under Obama with the bailouts and the processes with which the bailouts were granted.
As for the fact that Health care hasn’t passed and environmetals shifts are slower than other countries, I don’e see that as relevant. Universal health care is a MASSIVE shift, and if it had been passed already, I would be even more alarmed. Keep in mind that what has happened has been done in about 6 months, meaning there is another 3 and a half years of this pace. And we may be moving slower than other countries on environmental stuff, but that is a good thing. Other countries are going insane. At least here we have some real scientists willing to state the facts as we understand them about the environment, instead of working with a fanatical belief in global warming.