I wrote a post a little while ago about the current economic crisis. In that post I wrote:
Its amazing to me that they are saying maybe this latest stimulus wont be enough. Enough for what? Enough for whom? We live in a world that is constantly achieving new balance points….. There is very simple economic data that tells us this. The market evolves, and when the internal combustion engine develops, the people who make carriages are screwed…..Clear ideas are guideposts that can help us know how it all works. But even if we do know how it works, there is still the matter of how it is actually gonna work.”
The video below is an interview with Thomas Friedman on MSNBC. I think the only thing that Thomas can’t point out is that just as the President has to keep Republican’s voting with him, he has to keep Democrats voting with him. I do believe that there will come a time when some of the spending in the current budget will be rolled back. But if Obama didn’t do that now, Democrats would object that he was being run by the Republicans.
The economy that George Bush allowed to slide away is what Obama inherited. Oddly enough, in order to take the long-term steps to fix things, there have to be some steps ‘in the wrong direction’. Friedman is terribly smart… I enjoy listening to him keep our eyes on the ball.