Wednesday, January 21, 2009

$825 billion economic stimulus package... will it work??

I guess one of the reasons history repeats itself is because we think we're an exception to the rule - we think we can do the exact same thing that was done 80 years ago - but some how end up with different results. Unfortunately, it won't happen. The government isn't the answer

Big gov't spending didn't work in 1930s, won't work now
"The $825 billion economic stimulus package crafted by President Obama and Democratic leaders in Washington is being labeled as the largest public works project since the creation of the U.S. interstate highway system. Obama economic adviser Larry Summers predicted Sunday that taxpayers will see more money in their paychecks as a result of the legislation; and that state and local governments will be able to prevent layoffs of municipal personnel, including teachers and police officers.

However, Congressman Bob Goodlatte (R-Virginia) warns that big government spending increases did not help the economy in the days of Herbert Hoover and FDR.

Rep. Bob Goodlatte (R-Virginia)"This did not work back during the Great Depression in the 1930s," the lawmaker argues. "Massive amounts of new federal government programs and new federal government spending all through the 1930s left us at the end of [that decade] still in a depression with massive unemployment -- far, far-higher unemployment rates than we're seeing in the country today."

Goodlatte argues it was World War II -- not increased federal spending -- that ended the Great Depression. He believes reducing taxes and increasing investment in America's free-enterprise system will help end the current economic recession."

"In this present crisis, government is not the solution to our problem; government is the problem".... Ronald Reagan

This is where all of our money (taxes) will be going with bigger government and more government spending:

Can you say "bye, bye!"

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