Economic Insanity: Obama Economic Plan: spending borrowed money

Economic Insanity: Obama Economic Plan: “Throw Borrowed Money At It Until It’s All Better”

Spending borrowed money while inflating energy costs is a complete economic nonsense and using the borrowed money to bail out failing bank is disaster.

This is complete economic insanity which is evil greed cycle putting US into further disaster. Using borrowed money, to pay interest and to pay foreign investors to failing banks with the borrowed money. This will also inflate the basic need energy price which is sucking more wealth out of Americans and putting more into debt with increasing inflation.

This is a complete scam nonsense.

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http://papundits.wordpress.com/2008/11/25/obama-economic-plan-throw-borrowed-money-at-it-until-its-all-better/

WASHINGTON (SR) - President-elect Barack Obama yesterday promised to “jolt” the economy back on track by throwing massive amounts of borrowed money at it “until it’s all better.”

He declined to say how much the stimulus package might cost, but declared that the federal government must act “swiftly and impulsively” to hand out “as much money as we can borrow” to battle an “economic crisis of really big proportions.”

Obama also cautioned against inflating the U.S. national debt, saying government must “tighten its belt” in an attempt to ”lessen the certainty our grandchildren will be forced into prostitution in Saudi Arabia or building cheap lawn furniture in Chinese sweatshops.”

Republicans on Capitol Hill reacted to Obama’s speech by stockpiling additional food and guns in their North Dakota vacation homes.