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It has come to my attention that supporters of President Obama don’t know what he has planned for the future. He has introduced a large economic stimulus package – as Bush did – and the results will be devastating to the value of the U.S. dollar.
Obama’s stimulus package is no different than the other bailouts. It is more of the same old-white-president ignorance and government intervention, contradictory to his image of being progressive. Politicians always mislead us. The amount proposed is almost $1 trillion – that’s a “1″ followed by nine zeroes. Who will have to repay this? American tax payers. Where will this money come from? It is taken from us through mandatory taxation. The national deficit has never been higher, and this stimulus package is just hyperinflation, the quick mass creation of money. More money in the economy means a less-valuable dollar, and bailouts and stimulus checks are just a continued erosion of our currency.
We may be proud of Obama for closing Guantanamo, but that merely helps those prisoners and their friends and families. In the end, making the stimulus a reality will hurt the world economy as the dollar is the current world standard currency.
If you need historical proof, look no further than pre-fascist Germany, which ran into hyperinflation when the government stuck its nose into the economy, and its citizens ended up carrying around wagons full of marks just to buy bread. They needed economic rescue, and Hitler won power when he promised it.
The dollar only has value when there are products to buy and when those products will still be around in the future. In a recession, less is being produced, which forces the producers to demand more money from the consumers to cover the already high cost of production. The stimulus merely grants us all a shopping holiday, and in return, we produce nothing.
Our mixed economy has ruined capitalism through subsidies and government regulation and has perverted its ideals. Many American capitalists have moved elsewhere in favor of less intrusion and more freedom to succeed. Now, we see unemployment numbers skyrocketing. There will be no good jobs unless we create them. Workers will always be at risk for layoffs if they are not self employed or productively employed. We have already seen more people join the military and take government jobs in the search for security. The government pays them by taxing us, so we can only look forward to more debt and more taxes for a long, long time.
I call for the second coming of Andrew Jackson – a president who would stand up to the Federal Reserve and restore economic freedom to America. If not, change will be all that is left in our pockets once Obama continues his agenda of perpetual debt – or should I say, wagons full of worthless paper dollars.
Michael W. Gibson is a junior philosophy student.
