[letter published online by the Denver Post:
re "Obama touts economic plan", AP via Denver Post, 1/24/09
The Obama “economic plan” is neither. It’s a political spend-a-thon that lets government, particularly Democrats, buy more votes with taxpayer money and say they’re “doing something.” Republicans haven’t been right about much in recent years, but John Boehner hit the nail on the head: The ONLY thing the government should be doing right now is cutting marginal tax rates – permanently.
It is clear, not only with the US “TARP” but also with the UK’s similar bank bailout that the money has been little better than burned. Bank stocks continue to make new lows while every American citizen is saddled with an extra $1,000 of debt…and that’s just for the first half of the TARP and excluding Obama’s massive spending spree which will make TARP 1 look like chump change.
If there’s one thing Obama’s “economic plan” will do, it is increase the chance that for the first time in the history of the nation, our children will have a lower standard of living than we will as they struggle to pay off the inconceivably high debt we’re piling on their young shoulders. Not only is Obama’s plan economically ridiculous; it’s also immoral.