If the history of political meddling in the economy teaches us anything, it is that people seldom come to a realization of basic economic realities. That’s why President Obama can come up with yet another plan to ‘stimulate’ our economy like this:
That’s why we need to take further steps to create jobs and keep the economy growing, including extending tax cuts for the middle class and investing in the areas of our economy where the potential for job growth is greatest.
The simple fact lost on many is that all of this involves taking money we don’t have (which will mean increased debt and/or future devaluing of our currency) and spending it in ways that politicians deem appropriate. What it really, in effect, represents is government taking our money from us and deciding how to spend it for us.
[picapp align=”left” wrap=”true” link=”term=obama+economy&iid=9647673″ src=”http://view4.picapp.com/pictures.photo/image/9647673/president-obama-speaks-the/president-obama-speaks-the.jpg?size=500&imageId=9647673″ width=”234″ height=”167″ /]”Extending tax cuts for the middle class” implies that only that segment of income earners defined as “middle class” by politicians and deemed worthy of tax breaks will benefit from such a measure. The “investing” (which is government code for “spending”) in areas of the economy “where the potential for job growth is greatest” means government deciding what industries and individuals should be subsidized.