This iReport is part of an assignment:
Stimulus thoughts: What you'd fix first
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Posted January 11, 2009
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Location
North Bay, Ontario
North Bay, Ontario
Assignment
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More from Marcie
OBAMA CHANGE OR SPARE CHANGE?
Up here in the Great White North (Canada- where Santa and all the cold air comes from) we have been eagerly anticipating the inauguration of President Elect Obama. Most of us think Americans made a great choice from two sets of really impressive candidates. In fact most Canadians have commented that we would love to have candidates of that caliber up here because the ones we have now are real duds especially our Prime Minister who is clinging to power although he has lost the confidence of the House of Commons. (It’s like being impeached for incompetence) You betcha! But there does seem to be a huge problem. George Bush-the President everyone seems to love to hate has spent all the money! As the Author of “…the best book ever written on Business in Canada” –Your Very First Billion - this topic is right up my alley. Let’s see if we can hit a strike! So when President Obama receives the report from his Secretary of the Treasury that there are 32 cents left what happens to his plan for change? Change requires money and George Bush spent it all. In Canadian economics you cannot spend money that you don’t have. And if you borrow some you must keep the amounts reasonable and repayable. This is called deficit financing. Usually we run a surplus. It seems to us that in the USA you people just print billions and billions and billions more money every year and now we hear that you are going to spend another trillion or so to jump start the economy. Is this wise? I don’t think so. I wish more of you would read my book. If you are having trouble making all your payments you stop spending money and stop digging the hole you are in. You don’t go out and spend even more money to get out of debt. It doesn’t make any sense. If the change that Mr. Obama was talking about is getting some common sense back into fiscal management that is a good thing but if the change is spending even more money that you don’t have to get yourself deeper in debt then that’s a dumb thing. Canadians are concerned because the USA is our biggest trading partner and best friend and neighbors. And so our economies are joined at the hip so to speak. If we practice fiscal common sense and the strength of our banks and financial system are the best in the world then it all goes into the crapper if our good neighbor goes bankrupt. That’s not fair. And it is avoidable too. We have been running an online poll asking people what they think will happen in the financial crisis and the results are very scary. http://canadianbullshit.com/crisis.html in fact many people believe that we are headed to a depression and very few believe that Mr. Obama as much as we all like the man will be able to do anything to prevent it. So will it be CHANGE or SPARE CHANGE? Time will tell. But things don’t look very good right now. I think spending within your means is the way to go not spending like a drunken sailor on leave which is fun and flashy but leaves you with a hangover and sore body parts. Poor Mr. Obama. He is starting this with a huge monkey on his back and it’s not in a very good mood. We wish him the best! Marcie M. Farsea (Miss) Author
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