Tuesday, September 23, 2008

Grim economic predictions

Paul Weyrich has some very grim and frightening predictions for our economic future. He suggests that the looser of this Presidential election will actually be the luck one. Unless you are prone to panic attacks or nightmares, please read the entire article. I certainly agree with Weyrich's bottom line:

Put simply, there is no free ride in this world. And government at all levels, not only in Washington, has failed to understand this. Whoever wins this election had better be prepared to show some real leadership and be willing to take strong action immediately to save the Nation from what could be tantamount to a catastrophe.

A good place to begin, I believe, would be freezing the federal budget and begin working toward some deep cuts and re-prioritizing expenses in favor of the Nation’s
infrastructure. Balancing our federal budget and making some headway against an out-of-control national debt are an absolute must. There must be a return to sound fiscal policy.

I think John McCain and Sarah Palin understand this. Barack Obama, with his massive socialist spending programs, doesn't have a clue.

1 comment:

Alcamadus said...

The only reason for people to panic is if Congress continues to play games and not agree to pass the 700 billion bailout. If we do not go into a further deficit, we are going to see mass layoffs, high prices, thousand more foreclosures, people living on the street, tons of families moving in together to make it through the months. The economy is going to bomb, and with it the global economy. And if the government doesn't spend, then no one will and the middle class will be thrown into the lower class. The private sector will never invest into the economy when it is down, when no one spends, the economy stalls, when the economy stalls, jobs are lost, companies go bankrupt, and things take a LONG time to get back together.

I agree that fiscal responsibility in the government level is a must, and balancing the budget, and getting things on a healthy track is nescessary, but when you just got a huge bill in your mailbox you can either decide to go in debt or thrown on the street. Take your pick.