Yesterday was great occasion. For obvious reasons it was a proud day to be an American. I didn't vote for Obama, but he is my President. I will support him. I will also speak out against his policies when I believe that they are flawed. His inaugural speech scared me.
I was annoyed when Obama said that we are in the worst economic disaster since the great depression. This isn't true. By any measure Ronald Reagan inherited a much worse economic situation from Jimmy Carter than Obama is moving into.
|Prime Interest Rate||20.5%||3.3%|
|People in Poverty||14%||12%|
|Median Income (Todays dollars)||42,000||50,000|
|Maximum Tax Rate||70%||35%|
Reagan pulled us out of that economic crisis and he ended the cold war. Obama's motto should be: "What Would Reagen Do?"
What scares me is that Obama’s policies are much like Carter’s or FDR's policies. Please remember that if it wasn't for World War II and FDR's promise to keep the United States out of the war that he would not have been re-elected because of his economic policies.
Things are going to get much worse.
The financial markets are reflecting that Obama's ideas are flawed. After the inaugural speech the Dow Jones Industrial Average dropped 332 points. This IS the worst inauguration speech drop of the Dow Jones in history.
The proposed economic stimulus package will cost more than;
Both of the Iraq wars
The Vietnam War
World War II
All of the NASA projects
The Savings and Loan bail out
The Louisiana Purchase
And the entire cost of the New Deal
It will cost more than those things combined, and adjusted for inflation.
The United States will borrow more this year than in the previous two hundred years combined.
This is not what Reagan would do. Please Obama, ask yourself... What would Reagan do?