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Economic Stimulus to create more Deficit before the Economy Gets Better.

Thursday, January 8, 2009

As if we didn't already know, according to a recent report by Barack Obama, the Economic Stimulus plan most likely will cost over a trillion dollars. In a nutshell, that would mean that the national deficit will most likely go up by over $750 billion dollars overnight. But unfortunately, this is one thing that must be done to stimulate the economy, create jobs, and put this country back on track. In a recent meeting with CNBC's John Harwood, President-Elect Obama talks about the masive spending package and the people he has chosen to surround him in office. In my observations, there has never been a President-Elect that is so forthcoming about issues before his inauguration, and for that matter, ever. Now after his campaign is over, he is putting in measures that would guarantee that his prediciments are true. Just yesterday, he has created a new position in the government, known as 'Chief Performance Officer'. The new position will be held by Nancy Killefer, a director at McKinsey & Company and who was also a former asistant Treasury secretary in the Clinton Administration. Her job will be to work with economic officials in hopes to increase efficiencies and eliminate waste in government spending.
The issues that are now plaguing this country have been around a while, and probably surfaced just after the 2nd term of President Bush commenced. But I think that the lawmakers and people who monitor the state of our government and the economy truly believed that something like this could not ever happen with the economy. They might have thought that our system is so resilient, that it would never go backward and be like the days in the 'great depression'. But these people didn't want to believe the truth, including the President of the United States. That may be the case, or else the President lives in such a tight bubble that he was never informed by his people.
Many times I believe that our President Bush failed us time and time again. Maybe the real culprits here are his advisers. Time and time again, it appeared that George Bush has made some bad decisions. For example, he had to be misinformed about the threats just prior to 911. He had to be misinformed as to the seriousness of hurricane Katrina. He had to be misinformed as to the state of the middle east. He had to be misinformed as to the state of the economy.
Now, President Bush represents the past, and now the problems fall squarely in President-Elect Obama's lap. What I've seen since his election as President-Elect, that it appears that he thrives on the idea that he will be the one to run this country. That he will be the one to bring it back economically, that he will be the one to bring our troops home. I can think of no other person that is better suited for the job as President of the United States.

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