Wednesday, June 3, 2009

Debt Chickens Coming Home To Roost

Fed Chairman Ben Bernanke sounded an alarum today about the dangers of the Obama Administration's planned debt for as far as the eye can see. I will not dispute the President's move to pump money into the economy to get it started again....but a stimulus of half the size with nothing but "shovel ready" projects and across the board tax cuts would have been the way to go. The toothpaste is out of the tube, and while I'd love to see some of the $800B lopped off as a way of controlling debt, I doubt we'll see that happen.

And you Dems who read this and who are about to say, "well, we're just inheriting it from Bush", that line doesn't work anymore. The President is choosing to deal with a debt problem by tripling it. Not a sound response.

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