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Originally Posted by Danzig
but the fact is, and remains, that the deficit is the biggest issue for the economy and is what will continue to hamper any attempts at recovery. yet the current administration is spending money hand over fist, and is attempting to begin more costly programs than we have already that we can't afford. now is the time to cut back budget-wise, not take on even more debt. it seems to me at this point that obama is more interested in pushing forward his agenda, while completely ignoring reality.
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What do you think would have happened to us, to the world, if banks were allowed to simply fail, if the major financial institutions didn't receive loans, if there was no stimulus package, etc? If none of the other industrialized countries in the world did the same as we did?
As distastful as it is to increase the deficit, it's the only way out of a recession, the only way to prevent a depression. Look at history. Regarding "hampering attempts at recovery", the biggest thing that does that is no cash flow. Yes, I know we are printing it. I am old enough to remember when the gold standard was removed.