tag:blogger.com,1999:blog-6193150246897660601.post1050109695727064573..comments2024-03-05T02:38:24.323-08:00Comments on Obama Blog: Jerry Brown hearts ObamaPaul Kekai Manansalahttp://www.blogger.com/profile/17929956945080453339noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6193150246897660601.post-71658964170010370792010-08-29T07:15:57.760-07:002010-08-29T07:15:57.760-07:00The Republicans want to continue preserving tax cu...<i>The Republicans want to continue preserving tax cuts for the rich and are thinking of doing this by cutting spending at a time when only the government can lead the country out of the jobs recession in a timely manner</i><br /><br />One cannot solve a problem of debt with more of it, despite the desperate cries of Paul Krugman. Until this: <br /><br />http://static.seekingalpha.com/uploads/2008/12/25/saupload_a3.jpg<br /><br />is resolved, there will be no recovery. This is a problem of debt thirty years in the making; it's not Big O's fault. But his policies of borrow and spend will have disasterous consequences. If he continues on this path, which I have no doubt he will, he will be remembered along with Herbert Hoover as the president who presided over a grinding Depression. Luckily for him, I don't think it will be the US that sinks first; Japan's sovereign debt or the European banking system will be the first domino.Mr. Kowalskihttps://www.blogger.com/profile/07899577790533734474noreply@blogger.com