President Obama attack Bush's Public Sector Deficit ASAP

The US in the course of the eight years of the Bush Administration and the Republican led Congress has made us a debtor nation. I will say it again: The Bush-Republican led administration sold out our nation to foreign investors making us a debtor nation. Bush-Republican "Lone Ranger" approach left our nation "Tonto (silly)" in debt.

What is left of the economy the Bush Era Republican majority (now the minority) are slowly pivoting the responsibility of the economy onto the President Obama. The truth is the Republican's and Bush are solely responsible for the current crisis we face both militarily and economically.

The security question we should be asking is: "Are we as a nation more secure in light of the Bush/Republican economic sellout and economic catastrophe of 2008?" The answer in my mind is unequivocally, No! If military security hinges on our ability to raise, produce, and reconstitute our economy then the defense of our nation is treading on thin ice. All thanks to Bush-Republican sell out policies of their administration to fund an unwarranted war, and if the country does not rebound, then history will mark the Bush-Republican era, as a failure.

No matter where we are now or four years from now if our economy is not better by 2012 it certainly will not rest on the hands of President Obama. Realistically it took FDR three terms and the destruction of Europe to make our economy humm and grow. It took Clinton two terms to create record setting job growth, and economic solvency. It will take President Obama just as long.

It is completely the fault of Bush and his Republican co-horts, and if President Obama fails to revive the economy it will certainly not be because of his lack of effort, or the democrat lack of effort, but the blame will lie squarely on the shoulders of the party of NO, the GOP, the "GOPNO's," the people who at every turn said NO to President Obama.

Who wished his failure for their political gain. The "GOPNO's" will realize one thing that the tree will lay where it falls, and when it falls it will directly fall on them crushing them for being "DO-NOTHINGS" wishing our nation and our President's demise. The public will remember who never extended their hands, who never rolled up their sleeves, and provided the all important effort to join forces to pull our nation, out of the pit the GOP and President Bush has let it fall into.

Our stability has been squandered by unrestricted bloating of the public sector by Bush Republican's and by borrowing heavily or selling out America to foreign investors in China, and Europe. This borrowing has turned us into a debtor nation, inefficient, and unresponsive to the changing world environment and economy. Led by "lazy-faire"privileged pugilists who have fought, at every phase to strip every sense of equal opportunity and destroyed the highest possible value of American pride in the American Dream.

Because we have trillion dollar deficits with a capital "T," the emphasis of crisis is even more daunting and dramatic than a million or a billion dollar deficit, but the solution is the same. The Economic approach doesn't change, the basics of economic problem solving is essentially the same, and the mode attack towards large deficits is essentially the same as it was during the Clinton years or in FDR's era, only know the scale and enormity of the problem breaks new ground, because we are in the trillions, but nonetheless the sure footed principles of economics that pulled us out of the Great Depression, and Reagan's 1980's recession in the 1990's can pull us out now.

Relying on tested, tried, and true economic principles to attack the growing trillion dollar deficit will assuage the widespread anxiety the Republican's are trying to spread in sensationalistic attacks on our worst fear of economic insolvency.

So what can the past tell us about the future: Dr. Milton Freidman and Edward Nell, a Malcom B. Smith Professor of Economics, at the New School for Research in New York City wrote an article in 1994, published by the New York Review of Books titled: How Dangerous is the Deficit? An Exchange. Here both agreed on one thing:

PROFESSOR NELL WROTE:

Moreover, included in the US measure is the highest ratio of defense spending to GNP of any advanced nation. This means that excluding defense, we have by far the smallest public sector plus transfer system, in relation to GNP, in the developed world. Moreover our public sector has grown more slowly than that of any other developed nation. Could it be that many of our problems arise because our government is spending too little, in relation to GNP, rather than too much? Can we really manage the problems of a modern economy with less government participation than other nations require? Our social and economic statistics do not paint an encouraging picture.

These issues call for analysis and interpretation. Yet in public political discussion it is all too commonly assumed that government spending must be reduced further. However, recent studies have provided evidence that public investment in education, R&D and infrastructure will add more to future GNP than private spending, and further is likely to stimulate private productive investment. Far from trying to curb or cut government spending, the Clinton Administration needs to do just what Professor Friedman apparently fears—"…deliver…little if any deficit reduction, but instead [provide us with] a big increase in domestic spending, financed by a combination of new taxes and defense cuts…"

DR. FREIDMAN RESPONDED:

I supported President Clinton's deficit reduction package (indeed, I argued in these pages for a more aggressive program than the President's) not merely because I believe increased investment is essential to achieving productivity growth and with it a rising standard of living but also, and importantly, because I share the President's assessment that on average the US economy will be near to full employment during the period in question.

For example, I suggested in Day of Reckoning that President Reagan's tax cuts and greater military spending not only did not crowd out US private investment during the high-unemployment years of 1981–1984 but probably crowded in some investment by increasing overall economic activity and hence people's incomes and their demand for many products.

In the end, I was therefore pleased that Congress passed the President's program. No one likes paying higher taxes, of course, or doing without the programs curtailed by cuts in government spending. But I believe that reducing the government's borrowing, and so increasing our country's investment, is the surest way we know to begin to correct the dual problem of declining average living standards and widening inequalities about which I have previously written here.

The answer is... not to stop government spending but to stop government borrowing, and reign in the government bureaucracy, which the Bush-Republicans created. They sold out our nation, our nest egg's and our children inheritance to foreign banks and foreign countries, and placed our overall security on the most untenable ground ever.

What President Obama needs to do is stop government borrowing to attack the deficit, and pay off the foreign debt, ASAP. President Obama must continue his full court press and pass the twin reform of both the energy and health sectors and achieve the economies of scale and energy indepence that are so large a part of our present and future GNP. President Obama must continue to invest heavily, and even take a more aggressive approach to implementing the public investment in education, R&D and infrastructure that will add more to future GNP than private spending will ever accomplish on its own, and which is further likely to stimulate private productive investment well into our childrens future.

SENATORS ARE CUTTING OUR "SACRED COW": EDUCATION

Education should be "Our Sacred Cow." Cutting Education is a "knee-jerk" Reaction to balancing Budgets. It is a common Political Ploy. It is the common way of doing business in Washington. It doesn't Hurt them (the lawmakers) but it Hurts Our Schools, Our Teachers, Our Students. It hurts everyone.

How else will this nation pull itself out of the whole. Education is money well spent. It is the best investment this governing body can do for its people. It is the best money an individual will ever spend. Cutting Education is Stupid.

It is near sighted and ignorant of lawmakers to cut the Educational Budget allotment in this stimulus, when our schools are bursting at the seams with record high enrollments, and have record budget shortfalls during this recession!! EDUCATION NEEDS THIS MONEY NOW.

Some Politicians are narrow minded and operate with "small thinking" when they cut our EDUCATION BUDGETS. Rather than approaching this from an open "Expansionist" point of view. How can we grow our nation with "small thinkers"??

If we cut our $700 billion dollar habit on dependence on Foreign Oil in one year we can re-coup what we spend on this bill.

Call your Senators and tell them to replace the money they cut for Education!!! Today. Make them afraid of our voices.

OPEN LETTER TO THE REPUBLICANS

Open Letter to the Republicans

It is astonishing that you have taken a purely political stance in your vote of "NO." It is clear where you and your peers stand in NOT helping America prosper.

Your group were only interested in appearing strong under a united NO vote, but it only showed how weak you and your peers are.

Your NO vote made you an embarrassment and have made you appear naked before the Nation and your Florida Constituents.

It is a shame that you clenched your fists and fain a smile at the extra and out of the ordinary extension of bi-partisanship that President Obama extended to you and your colleagues.

Remember the President knew he didn't need your vote to pass the Stimulus Package, but he went out of his way to get your input, and you failed.

President Bush did more to show graciousness and openness than you or your colleagues did.

You miss the point of the stimulus plan. You view it as spending. NO, it is an Investment. It is a down payment on the investment on the re-building of this country.

You have politicized Our desire to invest in America. What the Republicans for the last eight years have done is spend on other countries, wars, on the elite, giving tax breaks when it was not needed, and dug US into a hole. You created a climate of gluttony and greed and it exploded in Our faces.

It is time we spend on our selves, our nation, our cities, our schools, our universities, our infrastructure, and everything else that is crumbling in our Nation.

Our nation's mall needs to be the shining example of this country. Yes let's re-sod our Capital. It should be a kept like a jewel. Sod farmers in Florida, Georgia would be thankful for a 20 million contract. Yes, lets spend a few million dollars on contraception to keep our population from exploding like China.

It keeps our clinics and doctors employed, our pharmaceutical's operating. Let's keep our nation healthy and keep STD from becoming as dangerous as AIDS, but you view that as pork. No, it is an investment in ourselves.

You miss the point-a dollar invested in America is a dollar well invested in America. Ok lets use your term; A Dollar spent in America is a dollar well spent in America. No matter what it is-it is an infusion into the American economy, and that is what WE need.

You have used the carrot of tax breaks to create gimmicks to benefit a few at the detriment of the middle class just for purely political gain.

We are tired of receiving the bait and switch, and eating the crumbs you have been spilling off of your table, and drinking the drops of water that comes off your chins.

Tax breaks are like giving a starving person a fish it only means death is staved off to another day.

We need good paying long term jobs/careers instead of tax breaks to spur this economy. Long gone are the jobs you can hold for thirty-fifty years.

Our businesses have exported out those type of jobs creating this volatile economic climate, and hence the instability on our economy.

Tax breaks are great when a person is making money and is gainfully employed, that spurs investment, but when the majority of people are unemployed, or are under employed, we get what we have today, deflation and a looming depression.

Receiving a tax break with our current economy just delays the in-inevitable; a horrible depression racked with disease, crime, poverty, and futility.

We are in the Golden Hour of reckoning, and our nation needs a massive infusion of Capital Work projects. We don't want to squander our resources or our planet, but you have done that.

NPR reports: Even as the Fed wants to use all tools available to battle the crisis, it is mindful that there are dangers: the potential to put ever-more taxpayers' dollars at risk; sow the seeds of inflation in the future; and encourage "moral hazard," where companies feel more comfortable making high-stakes gambles because the government will rescue them.

Our Federal Reserve Bank is at its brink, and there is nothing it can do anymore to fix this crisis. Nor do WE want or expect them to squander our money over to bad. It is time for huge government intervention in the form of public works programs, and long term job creation.

We have seen The Industrial Revolution—1771; The Age of Steam and Railways—1829; The Age of Steel, Electricity and Heavy Engineering—1875; The Age of Oil, the Automobile and Mass Production—1908; The Age of Information and Telecommunications—1971. What age will be known for? The age of greatest social-economic catastrophe; what age will we usher in?

The American people should not shoulder or encourage bad business practices for the sake of the whole. No, those businesses should sacrifice for the whole.

We are now battling a three headed snake: the housing crisis, the bad credit market, and a crumbling financial market, and to kill it we must chop off its heads and break up its body into several pieces so that it never rears its ugly heads again.

You don't understand that WE want to rebuild America, WE wan to re-invest in American technology, WE want to build a transportation grid that DOES NOT use fossil fuels.

WE want to contribute to the energy grid and with a solar panel on every home in America we can, but that is not politically expedient to you because your vote has been bought by those entities that want to keep this country hostage to eighteenth, nineteenth and twentieth century cronyism.

Your view is myopic. Republican and Democrats spent us into this recession. You are used to spending on pork, but when we want you to invest in America, you VOTE NO.

We hear YOU. But, if we were to stop buying 700 billion dollars worth of fossil fuel, we would in one year pay off this minuscule stimulus plan.

Rather than joining the thinking and saying OK what can I do to spur the economy in my state, and how can I invest in Florida wisely and with transparency through this stimulus plan-YOU have opted to VOTE NO. Nothing will come our way because of your NO VOTE. It is stingy thinking.

We will remember your NO VOTE, and when it comes time for re-election we will VOTE NO for you.