Friday, October 10, 2008

Hoover vs. Roosevelt

Surprisingly enough I found a good article on the difference between McCain and Obama on Real Clear Politics. While reading it, I came across this nugget... which I think the "deficit hawks" on the right should keep in mind while talking about talking about spending too much money on bailout plans.

The time to balance budgets is when the economy is humming. Now, the government is obligated not only to prop up the economy but also to bring back long-term growth. That will require transformative investments in infrastructure, health care, education and new green technologies.

If you think the number of Americans without health insurance is too high now, wait until this recession really kicks in. Few investments would help businesses more than offloading a share of their health care costs to the government. It's social justice with an economic kick. In fact, if these various bailout plans work, the government should get much of its money back during an economic recovery. If they don't work, balancing the budget will be the least of our problems.

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