Economics 101: Lesson 2

The president has now spent or committed hundreds of billions of dollars in "stimulus" money. What you will here in the media and from the White House is that it has created or saved 160,000 jobs to date. That's true and many of those jobs are within our own government which is not a good thing. What you won't here is that the economy has shed 1,600,000 jobs for a net loss of 1,440,000 jobs. Unemployment went past 8% like a Toyota Prius goes by a gas station and the Obama administration is now admitting that unemployment will make double digits. You see, you can't spend your way out of crisis and debt and neither can the government. Bad companies need to fail to be replaced by more agile, well run companies that meet an actual need. Propping up the lousy automobile industry only prolongs their and our misery. Interfering in the banking and insurance industry only guarantees a less efficient system that can then be exploited by overseas competition.