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US government needs to spend wisely
Published: 29 July, 2010, 03:51
Edited: 08 September, 2010, 19:19
While the American people are struggling economically, the Obama administration is missing or spending insufficiently billions of tax dollars.
It was longer even than eight years, but you have a point, Dustin, with your first sentence. We have also been gutting bank regulations since the Reagan administration. The big financial regulation bill just passed would not have been such a joke if Congress had simply reinstated Glass-Steagal and required transparency in the accounting of derivatives. Without those things, the US economy will remain a corrupt casino, and only the house will win. I really don't think Obama has any control over the country. The real rulers are the oligarchs.
“Cuts to military spending are possible without risk to national security.” This is a rare but sensible statement. Of course, since when has Washington been spending the tax-payers money wisely or appropriately? Apart from the fact that some of the states are near bankruptcy, the Treasury now sits on an almost empty coffer. Yet, it is going to pump more money in the billions into the bottomless war pit in Kabul. Can that be comprehensible? (vzc43)
The United States used to make some really good deals and spend the tax payers money very wisely. One good example was the purchase of Alaska from Russis. Now that was a super wise transaction. Does Russia have any more real estate like Alaska for sale? Perhaps we could trade California (a failed state} for Siberia, and throw in Manhatten, just to sweeten the deal.
Well, at least some sign shops got some work.
Wisely ? you said wisely ? Gosh , you must be kidding ! wise = with some kind of common sens , down-to-earth manner , with a long foreseen goal . I really wonder when was the last US "top-brass" to do anything wisely ? at some very rare exceptions , all US presidents had some furious ideas about how money should be spent ,with some "special kuku cases" as W.Wilson : founder of "the Fed's" who had only one task to carry Keep the $ Value (lost 98/99% of its value since 1913) R.Reagan : spent tens of billions on "Star War system" (most techs remain to be invented today !) and last but very far from least (probably the worst with W.Wilson who pushed Allies and US to send expeditionary-army to Russia during the Soviets rev. in Murmansk and Vladivostock ) G.W.Bush : the one who charged some 2 to 3 Trillions$ to US tax-payers for unneeded-wars , provoked by unreal-facts , to prevent unreal-threats , for completely faked-reasons ... (but for the best benefits of his friend(s) Dick and Haliburton ...) wise , you said ? Ha.ha.ha. ! they should have learned the lesson : even Vietman was too expensive for them ! (it provoked the abandon of Bretton-Woods [ US$=Gold Ratio system] ) US is addicted to credits and overspending ,nothing else !
It was eight years of tax cuts for the rich, budget cuts in social services, and deregulation of the stock market that got us into this mess. I remain firmly commited to social democracy and progressive change we can believe in. If republicans take control of congress in November, the rich will only get richer and the poor will only get poorer. If the Obama administration must continue spending to bring about a successful Keynesian intervention, then so be it. Yes We Can !!!