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Obama’s big government plans

January 12, 2009 by  

Obama supports big government interventionPresident-elect Barack Obama has made it clear that he believes government intervention is the best way to help the country overcome its current economic challenges.

In a speech given on Thursday in support of his economic stimulus package, Obama said that "only government can provide the short-term boost necessary to lift us from a recession this deep and severe."

He is attempting to tie the measures in the stimulus to expanding other government-led programs, including those relating to infrastructure and green energy.

According to some experts, Obama’s vision represents a 180-degree reversal from that espoused by Ronald Reagan during the financial crisis of the early 80s.

Allan Lichtman, a professor at American University in Washington, told the Los Angeles Times that in the president-elect’s view, "it’s not just a matter of fixing the economy – it’s a matter of fundamentally moving the economy in a new direction."

"And government, not private enterprise, has to take the lead," he added.

Obama’s economic stimulus package could cost as much as $1 trillion, according to estimates. Some have questioned how this spending will be achieved without raising taxes significantly.

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  • Alpon

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  • Chuck

    His tax credits are making a difference. For example, you can get up to 30% tax credit on a geothermal system.

  • John E.

    Sure just get every body working making over $250K then. He ‘ll be able to finance the Societies Woes

  • bbstacker

    Chuck, that’s a great technology, but if the homeowner is building new, will the lender tell the borrower about this technology? If buying another home, will the lender inform the buyer of the technology improvement that could be rolled into the loan? My bet is that the lender is ignorant in many cases, but spreading this cost over the loan life would make it much more available. In a retrofit, how many in this economy would spend about $20,000 to refurbish their HVAC systems to get a 30% tax credit. The incentive should be, IMHO, from the fact that the efficiency of the GSHP (ground source heat pumps) is superb when compared to standard heat pump exchangers; about $3 worth of heating or cooling for every $1 of energy to run the system, and bonus hot water in the summer. This is truly the way to go if the property is sufficient to accomodate the systems buried coils. If the gov’t can return a rebate in taxes, maybe they shouln’t have taken the income in the first place! I’ve known about this technology for nearly 9 years without any gov’t bureaucrat educating me on it’s benefits. Oh, that’s right, I’m stepping out of line by using my own brain and not saluting the benevolent regime in Washington.


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