Despite imposing a $1.75T deficit next year (probably the largest figure I've ever written in this blog), President Obama's budget is huge. It is comparable to FDR's New Deal. I think we should call it the Real Deal.
Only a month into the presidency, Barack Obama has signed a stimulus plan that will help us get out of our current mess, and a budget that will provide us with tools to make sure we never get into another one. Part of this gargantuan amount of spending will be focused on alternative energy and healthcare.
Alternative energy spending is helpful in that it will get us off oil, preventing a large transfer of wealth out of this country, by using our own resources like natural gas, wind, and solar power.
Getting us on a universal healthcare system is also instrumental, so people without healthcare do not face bankrupty should they lose their jobs (and currently their healthcare).
2009-02-26
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3 comments:
The energy thing sounds good to me but I'm against Universal Healthcare. I hope that all of this spending doesn't put us more in debt.
More debt comes with the territory. There's going to be trillions of dollars of debt added. But there's nothing wrong with debt. It is like something taking out a student loan or a mortgage. You go into debt so you can make a better life, and then you pay it off gradually.
Good point. We'll see what happens, though.
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