Ronald Reagan cut taxes to raise the deficit to stop liberals in future years from increasing spending. Obama will raise spending to raise the deficit to stop conservatives in future years from cutting taxes. As he funds every liberal dream - from alternative energy production to infrastructure renovation to more federal revenue sharing - he will force a massive expansion in the size of government for a decade to come.
Obama has paid and will continue to pay dearly for betting on his stimulus package. Because of it, the Bush recession is becoming the Obama recession much faster than it would have had he adopted a more gradual approach to solving economic problems. By jumping in immediately, as he did, in order to increase government spending and pass eight years of Democratic dreams in one day, he made the public expect a solution.
It is true that the top quintile is getting richer while the bottom is getting poorer, but the bottom is not the same people. There is, fortunately, a constant churning at the bottom as new immigrants move in and those who used to be on the bottom begin their long, thrilling upward climb to the American dream.
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