Tuesday, December 23, 2008
Obama's First Economic Failure
So maybe you've heard of Obama's plan to stimulate the economy once he takes office. That stimulus number has grown recently to a figure somewhere around $1 trillion. That's not a misprint....that's the word "trillion" back there. How will this package work? Why, infrastructure development of course! Build roads, sidewalks, and whatever else can be paved over. Sounds great right? Jobs created, people at work, economy stimulated. But guess what? Somewhere else in this world of ours, another country tried this same tactic just 20 years ago. That country was Japan. They adopted the same concept and upon completion went into a decade-long recession. Most Americans either don't know or don't care about this critical history lesson. Guess we'll all find out the hard way why this plan is doomed to fail right from the start.