Obama will acknowledge that he is making his pitch after the Bush administration has spent trillions of dollars, only to see the nation’s fiscal prospects sour even more as critics worry that resulting deficits could last for generations.
In remarks prepared for this morning’s appearance at George Mason University in Virginia, Obama will concede that Americans “might be skeptical of this plan.”
“Our government has already spent a good deal of money, but we haven’t yet seen that translate into more jobs or higher incomes or renewed confidence in our economy,” Obama says, according to excerpts of his speech that were released by his office.
Its gonna be interesting to hear all the “analysts” out there who railed on Bush when he made this same “hurry up or we’re doomed” pitch argue how this is different.
With all these bailouts, I think monopoly money will have more value than the American dollar in the end.
In the meantime, it looks like the US will have to look into pole dancing to convince China to buy more of our debt.
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