Barack Obama’s intent to energize the economy through a stimulus package is nothing more than an impetuous quick fix (“Obama’s Stimulus: Wrong Rx,” J.D. Foster, PostOpinion, Jan. 9).
Like a narcotic, it will create the illusion of nirvana. But when the stupor wears off, the thunderbolt of reality will cleave the carapace of self-delusion, and the specter of a devalued dollar and rampant inflation will only exacerbate the economic crisis.
Brother, can you spare a dime?
Alex Kass
Queens
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It is disturbing to see that Obama and Congress have not learned from history and still believe that FDR’s government spending during the Great Depression cured the economic ills and is the solution to our current problems.
World War II ended the Depression, not government spending. The war destroyed most of our competitors who supplied goods and services, leaving the United States the last man standing to supply the world.
It is a mistake to believe that the money spent back then generated real goods and services.
Infrastructure was developed, but let’s not deceive ourselves – bridges, roads and dams did not, and will not, produce wealth. Only ideas and innovation will.
Wayne Olson
Ossining
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Doesn’t Obama realize that the cause of the profound irresponsibility that stretched from corporate boardrooms to the halls of power in Washington is now part of his team? They have no accountability for the last pile of money they dished out to AIG.
Why not just give the American people their money back?
I think we can figure out how to spend our own money better than the cast of characters he will have running this country.
Jane Ellen Isabella
Johnstown
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Just as we have a duty to be good stewards of the planet for the sake of future generations, we have a duty to not burden them with the huge deficits that will result from Obama’s big-spending plans.
If he wants a vote of confidence, he should think about making a clean sweep of the Senate Banking and House Financial Services committees, whose chairmen, Chris Dodd and Barney Frank, were among the architects of this mess.
Obama won’t be able to print money fast enough to pay for all of these programs. Americans will be bled dry as Obama keeps redefining “wealthy” down to squeeze every possible tax dollar he can.
Cathy Vasilakos
Brooklyn
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Obama is correct when he says that the recession can linger for years if nothing is done. This is a normal and cyclical correction.
However, if he throws dollars that we don’t have at the problem, as FDR did, the recession will become a depression that, like in the 1930s, will need another world war to end.
Steve Becker
East Meadow
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It sure looks like the Democrats are in big trouble in 2010.
Investments stimulate an economy, not welfare or public assistance. Obama warns of trillion-dollar-deficit potential, and that’s without counting the stimulus package.
With such an entitlement plan, Obama’s stimulus package will not work.
Yes, there is much blame to go around, but Congress and corruption (working together) are mostly to be blamed for the financial bankruptcy in Wall Street.
Art Hassan
Los Angeles
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It is pretty obvious that Americans are hoarding whatever spare cash they can get their hands on. Unfortunately, this type of behavior, though understandable, will not create jobs.
It is likely that tax cuts will only lead to more savings and not spending.
The heralded dream team of economic advisors that our president-elect has put together can surely do better than stealing a page from the playbook of President Bush. At least I hope so.
Mark Shemtob
Denville, NJ