Mar
24
2009
Obama’s 2/24 Press Conference: “We Will Recover”
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Just a few comments on President Obama’s press conference tonight, it will be quick because I’ve got a lot to study. I’ve got the whole thing posted at the end of this article but I wanted to highlight this clip where he addresses issues surrounding his proposed budget. Its short, and if you’re concerned at all about the 3.6 trillion budget the administration recently proposed its a good one to watch.
I’m probably going to do a larger post about the budget at a later date but I think he does a great job of hitting some of the common concerns head on. One thing he talks about is that, like with the stimulus plan and the bank bailout, we have to remember that it’s not a choice between increasing the deficit and not increasing the deficit! The deficit will increase over the next several years. Its a matter of choosing the path that will increase it the least. And we also have to remember that a slow-growing, or shrinking, economy reduces government inflows and increases our deficit significantly. The idea is to boost spending in ways that will stimulate the economy such that it offsets the costs of that spending.
So I don’t think we can just say, “why don’t we spend less to decrease the deficit?” Cutting valuable spending will likely Continue reading
