Obama criticised the Bush administration for not doing enough in regard to helping struggling homeowners during the economic meltdown, stating:
I'm disappointed that we haven't seen quicker movement on this issue by the
administration. We have said publicly and privately that we want
to see a package that helps homeowners not just because it's good for that
particular homeowner; it's good for the community.
It's hard to imagine how spending $3.6 trillion within 3 months is "not doing enough," but evidently Obama would have spent much more. By deduction Obama not only supports the destructive bailouts of the bankster financial cartel, but also the bailout of individual homeowners by who-knows-what means.
He later punted on the question of a bailout of the auto manufacturers, but implied that he supported some sort of injection of government funds.
Strangely, Obama then stated that the government can't continue to "print money" to get out of the crisis. There was no elaboration. Of course, there couldn't logically be any elaboration considering the comment was a non sequitur.
2 comments:
Merely political posturing. Have to bash the old administration no matter what, just to gain legitimacy for a "change" agenda.
Good catch on the printing money issue...nice to pay lip service to something, even if it's entirely contradictory to the policy implications of his preceding statements.
Thanks! I thought it remarkable that Obama actually acknowledged money creation as a method of government finance.
Of course, I don't trust that the Obama Administration will actually follow constrained monetary policy.
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