Obama's Fiscal Double Standard

Obama spent the bulk of his campaign blasting Bush (and by proxy, John McCain) over government spending that led to a $1 trillion national deficit. He made promises about bringing fiscal responsibility back to Washington and getting this country out of the hole. Of course, it was only AFTER he was elected that he informed his supporters that this fiscal salvation would take years and years to accomplish. Either way, he has not backed down from his promise to rescue this nation from the pits of eternal fiscal damnation.

So why is it that he has asked for nearly $800 billion for an economic stimulus package? This is absurd for two reasons. First, how do you correct a $1 trillion deficit by adding $800 billion to it? Second, where is the government going to get this money if we're so broke? We're going to have to borrow it from another country. How is it going to be paid back...by raising taxes. Best case scenario, this is not even a wash because the taxpayers will be paying interest on these so-called stimulus checks.

But, not only does he want to add $800 billion to the national deficit, he wants to inject trillions into the banks in order to make them financially viable again. Once again, how do you correct a huge deficit by piling more and more debt on top of it? Every time the government pumps money into the economy, the market experiences an artificial pop with nothing to sustain it. We will continue to see false bottoms in the market until the market works itself out. Hang on folks...it's going to be a bumpy ride!