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Three perspectives on the Obama economic plan2 min read

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Fresh from the news:

  • Penn Jilette (comedian, magician, commentator) – "Counterintuitive action makes a fellow feel smart. ….Obama tells us that we can spend our way out of debt. He tells us that even though the government had control over the banks
    and did nothing to stop the bad that's going on, if we give them more
    control over more other bank-like things, then they can make sure bad
    stuff doesn't happen ever again. He says we can get out of all those
    big wars President Bush caused by sending more troops into Afghanistan.
    And I don't know. I really don't know." (in Is Obama skidding or crashing?)
  • Mark Stein (conservative Canadian political writer) – "Apparently, nothing testifies to the
    American virtues of self-reliance, entrepreneurial energy and the
    can-do spirit like joining the vast army of robotic extras droning in
    unison, “The government needs to do more for me…” For the moment,
    Washington is offering Euro-sized government with Euro-sized economic
    intervention, Euro-sized social programs and Euro-sized regulation. But
    apparently not Euro-sized taxation.
  • William K. Black (in an interview w/ Bill Moyers, April 3, 2009):

    BILL MOYERS: To hear you say this is unusual because you
    supported Barack Obama, during the campaign. But you're seeming
    disillusioned now.

    WILLIAM K. BLACK: Well, certainly in
    the financial sphere, I am. I think, first, the policies are
    substantively bad. Second, I think they completely lack integrity.
    Third, they violate the rule of law. This is being done just like
    Secretary Paulson did it. In violation of the law. We adopted a law
    after the Savings and Loan crisis, called the Prompt Corrective Action
    Law. And it requires them to close these institutions. And they're
    refusing to obey the law.