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Here's a question: what if all of this "socialism!" works. I mean, what if the economy turns around before the 2012 elections? Won't that provide an object lesson in the bankruptcy of GOP-esque conservative ideology?
Two things:
1) What if it doesn't? The forecast for our deficit and the ramifications of failure are probably more significant than if we had done nothing.
2) How do we know? I posted a graph a few weeks ago that showed that government stimulus / interventions often went into affect AFTER a recovery had already started. The question is, really: Can the economy recover without socialization, or is socialization the only solution?
Every "expert" I've read has said that the turnaround will happen well before 2012, even if we do nothing. Is our barometer for success really that the recession ends before 5 years? 2012 will be around the 5th year depending on where you see the recession having started. It seems almost inevitable that the turnaround will happen before then, so I'd rather see a more aggressive goal than 2012.
The government agrees with me, I think. you wouldn't see these quarterly bailouts of companies like AIG, which took 30 billion and lost 70 billion, happening over and over. That can't and won't last until 2012.
I think nationalization, as repugnant as it is to me, has to happen. That, or let them bleed and collapse naturally. The half measures don't cut it, it's all or nothing from my standpoint. That's one thing I like about the budget that was submitted, it's definitely not shy. The ramifications, if he's wrong, though... much worse with a high-risk solution, obviously. But hey, better bold than timid, so I support a lot of what's in the budget. I just really hate the outlook on the deficit.
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I guess it just seems kind of dumb to me, because I think that in the end, things like universal healthcare are going to prove to very popular once implemented
But Obama isn't, and has never, promised universal health care, just reform. That was the key, and probably only, differentiator between him and Clinton during the election. Clinton promised universal, Obama did not. Do you really think we'll have universal healthcare after the reforms are put in place? Serious question... I don't see it moving in that direction.