June 3, 2011

Being held hostage - Debt Ceiling

"We extended the tax cuts to the wealthy that will do nothing to stimulate the economy out of the financial down turn. This extension does add to the deficit problem facing this country; as does the additional spending provisions of extending unemployment insurance, temporarily reducing employment taxes and other spending provisions. Obama effectively said to the Republicans, "I will let you spend more, if you let me do the same." In other words he caved into the hostage takers. Guess what, the hostage takers will be back." Free Our Free Markets, December 23, 2010
Obama deserves some of the blame for the hostage situation we are in. The Republicans were successful once so they are trying again.

1 comment:

  1. The main threat to market competition is the concentration of wealth in the hands of a few players. It is more profitable for them to maintain a small number of goods and services providers who dominate markets and therefore immunize themselves from competititon than to invest diversely and allow true, efficient competition. As long as americans want to feed their savings to this hole, simply driving money out of politics won't acieve anything. we need to open up investment.

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