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Monday, February 16, 2009

"Child's Pay" - The Stimulus Package and Runaway Deficits Will Destroy Our Children's Future ran a famous ad that asked the question: "Guess who's going to pay off President Bush's $1 trillion deficit?" They were correct to answer thusly:

Our children pay off deficits. Future generations pay off deficits. The people who enjoy their tax cuts today will pay off deficits (with interest) tomorrow.

Both "sides" have been hypocritical

Many Democrats likely nodded their agreement when the MoveOn ad came out- where are they now? And what are they saying about Obama's unprecedented deficits after only a month in office? Polls show that Democrats skew heavily in favor of the stimulus (82% supported it by Feb 11). Many Republicans oppose Obama's deficits now, but where was their concern these last five years? They defended Bush's deficits using Obama's current rhetoric: "We were experiencing an emergency. We had to spend that money. If we didn't our country would sink into an irreparable catastrophe."

The deficit is not a partisan issue

People, this is not about partisan politics. I am not interested in advancing either major party's agenda or polishing their image. This is not and should not be a partisan issue. Any sane, responsible person should be able to see that this kind of spending is unsustainable and will have only a negative effect on our prosperity and future. And any honest person should be able to see that both major parties are responsible for this and both major parties should be reformed. Voters in both parties should kick out policy-makers who have made this mess and elect only candidates who promise to get this problem under control.

We have to start caring and taking action now

If people continue to support irresponsible deficit spending when their party is in power and then oppose it when "the other" party is in power, both parties will just take turns robbing us until there's nothing left. We have got to put an end to it now. Otherwise we will be saddling our children and future generations with this:

(Source- PowerlineBlog | Hat Tip: David Boaz, The Cato Institute)

And this:

Data from the Federal Reserve Bank of St. Louis.
Image © 2009 The Humble Libertarian

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  1. The real irony here is that the original "problem" was that the banks lent too much money, essentially bad loans, and that due to the foreclosures on the bad loans, they were losing lots of money.... so it's pretty obvious that lending must be done with some discretion.

    And yet Congress has lent these same companies that are losing money because they don't know sound economic policies on how to intelligently lend/borrow money billions of our dollars, which they in turn had to "borrow" from the future generations, because they don't have the money to spend as is.

    Anybody else catch the trend here? Now who's going to bail out the government?

  2. Excellent summary! And that is indeed the question of the hour isn't it? Who's going to bail out the government?

  3. I write a blog with similar rants about the stimulus. In my 48 years on this planet nothing has pissed me off more than this stimulus, and the previous bank bailouts. I could write more but I'd be preaching to the choir. One thing. We got into the housing mess because we are told "people didn't read or understand the mortgages they were signing" So we sign on to a $790 billion dollar stimulus that all who signed on to it admit "They didn't have time to read it" Do they realize if they looked at this from the outside they would be yelling "You Assholes" Dave

  4. Great point about the housing mess/stimulus package! I checked out your blog and have included you on my blogroll.

    I'm sorry to hear that you suffer from so much pain because of your back. I can only hope that in this adversity you will still find many blessings.