Obama wants to spend close to a $1 trillion dollars to revive our morbid economy. Any idiot can spend the money we don't have. That is politics as usual. Deficit spending has been the modus operandi for the last 30 years when the normal business cycle heads down.
Where is Obama's so called 'different' kind of politics? Borrowing massive amounts and sacrificing the future generation's earnings is not a sign of intellect! None of his economic advisors saw the economy tanking! Why should we belive them when they insist that massive deficit spending will get us out of this mess. They are relying on a small data set of past policy actions to defend their recommendations.
It takes a different type of politicitian, one who truly understands the trade offs, to cut government spending (including entitlement programs such as Social Security, Medicare), encourage savings, cut income taxes and capital gains taxes. It takes a different of politician to let the housing bubble correct and send the right message for those that took a risk and lost. Those that saved and avoided risk should be rewarded. Clearly Obama does not understand this.
Republicans need to take a stand, right here, right now.
'Senator Judd Gregg of New Hampshire, the senior Republican on the Budget Committee, and his House counterpart, Representative Paul D. Ryan of Wisconsin, said the extensive borrowing by the government could be a disaster if Congressional Democrats and the new Obama administration did not also work on long-term solutions including changes to Social Security and Medicare. ' - NYT