Tuesday, November 11, 2008

Let the spending begin...

Or continue, as the case may be.  It seems POTUS-elect Obama along with his friends the congressional democrats would like a bailout for the auto industry.  It's no surprise that they would suggest this since they need to return the favor of millions of dollars from the UAW to get them elected.

This is such a bad idea I don't even know where to start, but what it does highlight is the direction the incoming administration is planning on going in order to fix the economy - bailouts and stimulus packages.  Supposedly congressional democrats are planning 2 - count 'em 2 - stimulus packages to be released before March.  I know the economy needs to be fixed, but I really don't think this is the way to do it. And by the way, how are taxes getting lowered while they're doing this?

2 comments:

Nomad said...

Taxes lowered?! Didn't you get the memo? The Dems believe they have a MANDATE (even though only Obama really has the evidence for it) so expect only taxes to go up.

Sigh. Unless Obama or another high-ranking Democrat have the ability to push for compromise, 2009 will be a year of deep Recession as we struggle under a million new taxes and wait while stimulus is held up in bureaucratic red tape.

shadowmom1 said...

It is not only the Democrats who think the auto industry needs the help. I don't like Obama or much of what he thinks, but this is one thing that is not his alone.

Of course, no one really thinks that taxes will go down under Democratic leadership.