If it didn't work for Lincoln why would it work for Obama?
Lincoln's argument was a sort of primitive foreshadowing of today's Troubled Asset Relief Program, or TARP. While Democrats all the way up to President Andrew Jackson were demonizing the banks, Lincoln maintained that the way to save the system was to pump more money into it. He was convinced that once confidence was restored and commerce began humming again, the public works — roads, canal routes, widened rivers and rail lines — that seemed so expensive during the slump would repay their cost many times over. In his folksy way, he compared a stalled economy to a steam engine and thus summed up the idea we now call stimulus. At the engine's "dead point," Lincoln said, even a single turn is "extremely difficult." But jolt it back to life, and it quickly regains momentum. Then "all will be well again." He wasn't entirely successful, and in the short term, Lincoln's vision saddled Illinois with a heavy public debt. But he carried lessons from that experience into his far more famous fights against slavery and for the Union. Lincoln's presidency worked an unprecedented economic transformation on the country. For the first time, the Federal Government taxed income, floated bonds on a large scale and issued paper currency. http://www.time.com/time/specials/packages/article/0,28804,1877093_1877109_1877111-4,00.html herb........unfortunately "hoping" something will happen does not make it happen. History, on the other hand, could be used as a learning tool so that we don't make the same mistakes again.
Politics - 3 Answers
People's Answers, Critics, Comments, Opinions :
Answer 1 :
Do you want it to fail? Why? So you can gloat? Maybe the stimulus will succeed and maybe it will fail. No one really knows. But if they are going to pass it, then I hope is succeeds.
Answer 2 :
because obama is the messiah. geez, i thought everyone had figured it out by now.
Answer 3 :
The Non-Partisan Congressional Budget Office has Already stated this Stimulus WILL Cause More Harm then Good! http://news.aol.com/political-machine/20
Lincoln's argument was a sort of primitive foreshadowing of today's Troubled Asset Relief Program, or TARP. While Democrats all the way up to President Andrew Jackson were demonizing the banks, Lincoln maintained that the way to save the system was to pump more money into it. He was convinced that once confidence was restored and commerce began humming again, the public works — roads, canal routes, widened rivers and rail lines — that seemed so expensive during the slump would repay their cost many times over. In his folksy way, he compared a stalled economy to a steam engine and thus summed up the idea we now call stimulus. At the engine's "dead point," Lincoln said, even a single turn is "extremely difficult." But jolt it back to life, and it quickly regains momentum. Then "all will be well again." He wasn't entirely successful, and in the short term, Lincoln's vision saddled Illinois with a heavy public debt. But he carried lessons from that experience into his far more famous fights against slavery and for the Union. Lincoln's presidency worked an unprecedented economic transformation on the country. For the first time, the Federal Government taxed income, floated bonds on a large scale and issued paper currency. http://www.time.com/time/specials/packages/article/0,28804,1877093_1877109_1877111-4,00.html herb........unfortunately "hoping" something will happen does not make it happen. History, on the other hand, could be used as a learning tool so that we don't make the same mistakes again.
Politics - 3 Answers
People's Answers, Critics, Comments, Opinions :
Answer 1 :
Do you want it to fail? Why? So you can gloat? Maybe the stimulus will succeed and maybe it will fail. No one really knows. But if they are going to pass it, then I hope is succeeds.
Answer 2 :
because obama is the messiah. geez, i thought everyone had figured it out by now.
Answer 3 :
The Non-Partisan Congressional Budget Office has Already stated this Stimulus WILL Cause More Harm then Good! http://news.aol.com/political-machine/20
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