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Hernando Today

Deficit Spending Will Only Make Matters Worse

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Hernando Today

Published: March 18, 2009

After reading Dallas Dunlap's letter this past Sunday, I continue to be amazed at the hypocrisy by some who after nearly eight years railing against deficit spending when George Bush was in office don't have a problem with it now that Barack Obama is in office.

If Obama was smart he would have vetoed this spending bill just like he said he would when he was campaigning for president.

But what really annoys me about Mr. Dunlap's letter is how he blames everything on the Republicans and gives the Democrats a free pass. In a previous letter he referred to the "Reagan recession," not the "Carter recession." Ronald Reagan inherited a mess from Carter and it took some time for us to come out of the recession.

As far as I am concerned the economist Keynes had a very myopic understanding of how economics truly work. He was one of these academics who dealt with theory rather than real life.

Any businessman will tell you what will happen if you operate at a deficit. What we have in Congress are people behaving like a bunch of drunken sailors on shore leave spending like crazy under the belief that somehow this spending will create jobs. I doubt very much it is going to happen and, in fact, I believe it will make matters only worse.

Peter Stathis

Spring Hill

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