I have been mulling over the fact that Obama loves to talk about the great depression as if it were a thing of the past and he is the nation's savior from another depression. Some economists recently have actually compared Obama's self-induced disastrous economy with that of the 1930s.
If we don't learn from history, we are destined to repeat it. Keynesian economics is flawed. FDR proved that, but that doesn't seem to stop Obama from insisting on following in his footsteps and repeating his mistakes, only tenfold.
The stimulus spending was not only borrowed money, but it was spent on things that will not generate any income. So now we are stuck with the debt, interest on the debt of about $100 million a day, and an economy that is no where near a recovery.
Friday, August 6, 2010
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