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Be afraid, be very afraid

April 4, 2009

In the short time the Obama administration has been at the helm, my fears about his total inexperience have only mounted. He and his bunch of tax-evading cronies do not seem to understand Economics 101.

Once upon a time, I might have said that people in pay grades much higher than me know better than me how to solve the current economic crisis. Given the current situation at the federal level and nearly every state level of government in America, I no longer believe that.

I think it’s pretty low-level economics to understand that if this president’s administration keeps spending trillions of dollars – seemingly every day – it won’t take long for the U.S. dollar to have absolutely zero value. We might as well all start printing our own money at home. Neither will have gold or other collateral backing them up but who cares!

I hope soon someone helps them recognize that this is not the way to fix things. We all need to follow basic financial principles: at home, in business and in government. In government, that sometimes mean cutting services because revenue, i.e., tax dollars, is down. At home it might mean cutting cable T.V. out of the family budget because Mom no longer has a job.

It’s not the 21st Century American way I know. But the model we closed the last century with, doesn’t work too well.

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