http://news.yahoo.com/s/bloomberg/20090312/pl_bloomberg/arahxwms43r4
Here are just a few highlights:
March 12 (Bloomberg) -- President Barack Obama warned a group of chief executive officers that the U.S. can’t continue with “endless cycles of bubble and bust” and must build a new foundation for future economic growth. Obama blamed the crisis on “reckless speculation and spending beyond our means; on bad credit and inflated home prices and overleveraged banks.” ‘Illusion of Prosperity’ “Such activity isn’t the creation of lasting wealth,” he said. “It’s the illusion of prosperity, and it hurts us all in the end.” He likened the initiatives outlined in his $3.55 trillion fiscal 2010 budget plan to projects by past presidents to build a transcontinental railroad, the interstate highway system and the space program. Such plans aren’t intended to supplant private enterprise, Obama said. Rather, they are designed “to spur commerce and industry,” he said. He promised his plans for revamping financial regulations won’t “strangle” the flow of private capital and that he’ll seek “global coordination” on a new framework when he meets with other leaders of the Group of 20 nations April 2 in London.
Obama blamed the crisis on “reckless speculation and spending beyond our means; on bad credit and inflated home prices and overleveraged banks.”
‘Illusion of Prosperity’
“Such activity isn’t the creation of lasting wealth,” he said. “It’s the illusion of prosperity, and it hurts us all in the end.”
He likened the initiatives outlined in his $3.55 trillion fiscal 2010 budget plan to projects by past presidents to build a transcontinental railroad, the interstate highway system and the space program.
Such plans aren’t intended to supplant private enterprise, Obama said. Rather, they are designed “to spur commerce and industry,” he said.
He promised his plans for revamping financial regulations won’t “strangle” the flow of private capital and that he’ll seek “global coordination” on a new framework when he meets with other leaders of the Group of 20 nations April 2 in London.
And I'm curious, are there any libertarians here (or anyone for that matter) who is sympathetic to the Obama administration?
I like how he mentioned "spending beyond our means" and then proceeded to talk about the $3.55 trillion fiscal 2010 budget plan. A+.
News: U.S. Can't Support Obama
Political Atheists Blog
Problem: Reckless spending
Solution: More spending
Schools are labour camps.
Taras Smereka: Problem: Reckless spending Solution: More spending
Ahh, but in the solution it's the state that's doing the spending. You see, it's different because the state obviously knows how to make better use of money than the people who own it.
Diminishing Marginal Utility - IT'S THE LAW!
iAnd if you thought that was bad:
http://news.yahoo.com/s/ap/20090313/ap_on_go_pr_wh/obama_economy
Turning more upbeat, President Barack Obama said Friday his administration is working to create a "post-bubble" model for solid economic growth once the recession ends. He said that means the days of overheated housing markets and "people maxing out on their credit cards" are over. But first, Obama said, "We've got to get through this difficult period."
alansmithee: iAnd if you thought that was bad: http://news.yahoo.com/s/ap/20090313/ap_on_go_pr_wh/obama_economy Turning more upbeat, President Barack Obama said Friday his administration is working to create a "post-bubble" model for solid economic growth once the recession ends. He said that means the days of overheated housing markets and "people maxing out on their credit cards" are over. But first, Obama said, "We've got to get through this difficult period."
For the post-bubble model will require many soldiers on each street corner, to ensure the evil credit card's doth not enslave mankind, despite mankind creating the Credits in the first place. So say we all.
"Look at me, I'm quoting another user to show how wrong I think they are, out of arrogance of my own position. Wait, this is my own quote, oh shi-" ~ Nitroadict