Feb 06 2009
O’bama’s Stimulus Package continued
In trying to scare us into backing this plan, Dave Obey writes:
The economy is in such trouble that, even with passage of this package, unemployment rates are expected to rise to between eight and nine percent this year. Without this package, we are warned that unemployment could explode to near twelve percent. With passage of this package, we will face a large deficit for years to come. Without it, those deficits will be devastating and we face the risk of economic chaos. Tough choices have been made in this legislation and fiscal discipline will demand more tough choices in years to come.
In translation, we are in trouble and this plan is not going to be the answer. With the package we are going to have a large deficit, high unemployment and there will be more … of something to come. This paragraph reads as a scare tactic and promises little. If we pass this package, things are still going to be bad.