Saturday, January 10, 2009

What Lifeboats?

The GOP wise men, having steered our economy into an iceberg, are burning the lifeboats and smashing holes in the hull with the fire axes. Of course, they have their jet skis waiting; they will have a way out.

offers "10 Absurd Conservative Myths About Obama's Recovery Plan." It is a little long, but give you specifics on what you need to know to fire back.
  • As usual, the conservatives have absolutely no conscience about what they did to create this mess. If they did, they'd all be holed up in their gated communities or on their private islands, embarrassed into silence at best and terrified of peasant uprisings at worst. Instead, they're jetting into D.C. en masse in a last-ditch attempt to head the country off -- or at least make sure that any money that does get spent ends up, as it always has, in their pockets.
  • To that end, the self-serving myths are starting to fly so thick and fast that the staff here at CAF has been working full-time to keep ahead of them. Here's some of what they're flinging in this latest B.S. storm -- and what you need to know to fire back.
Obama has responded to the critics of the recovery plan.
  • I want this to work," said the president-elect. "This is not an intellectual exercise and there is no pride of authorship. If members of Congress have good ideas, if they have a project that would create jobs in ways that do not hamper the [economy in the long-term]... then I'm going to accept it."
  • "Our expectation is that we will continue to hone and refine our package over the next several weeks," he said. "One thing I will continue to insist upon is that we cannot delay. There will be a whole host of good ideas out there and we should [look at] them. What we cant do is delay."
I am afraid he is giving the too many members of Congress WAY TOO much credit. They will always play politics and always protect themselves and their re-election war chests.

Something has to be done and soon. "Unemployment Hits 7.2%, 16-Year High," NY Times.
  • Consumer spending and business investment have fallen precipitously and lenders have been reluctant to supply the credit that would be needed to lift private sector demand. In addition, demand is not likely to revive until consumers become more confident about the economy. Their confidence is at record low levels.
How's you confidence?

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