Bright Agrees With Obama's Failed Economic Policies

Revealed in Obama's response to our economic problems is a belief that the private sector is the evil originator of all our problems. Also revealed is a touching, but misplaced, faith in the Keynesian assertion that government can spend tons of money and spark an economic recovery.

Both of those beliefs have been tested and have failed. However, our own Congressman Bobby Bright hasn't gotten that memo, I guess, and he still believes that government spending will save us all.

If you'll recall, the government's response to the drop in housing sales was to offer an $8,000 tax credit for home buyers. Yes, they took money from our children (borrowed it, making the deficit AND debt larger) and gave it to somebody who wouldn't buy a house right then without the handout. The result of this program was a modest boost in housing sales... followed by a matching slump as soon as the tax credit expired.

Most economists agree that the tax credit didn't generate any new economic activity, it simply affected the TIMING of those who were already considering buying a house.

Now Bright thinks the way to help the economy rebound is to go DEEPER into debt and re-instate the tax credit.
http://www.montgomeryadvertiser.com/article/20100826/NEWS01/8260308/Bright++Another+home+sales+tax+credit+needed

Those numbers reflect the first month since the tax credit of up to $8,000 expired. Bright said he pushed to extend the credit before and will renew that push now that numbers show how dependent housing was on the credit.

"We need more legislation to prompt home sales," he said.

There it is... Bright has completely bought into Obama's failed economic policies and believes that the private sector needs government help to work.


As the Democrats try Keynesian stimulus again and again, and as these efforts fail again and again, more and more economists are saying that we need to stop these kind of efforts.

Look, a temporary boost in sales is fine, and if that's all you're looking for (say, to boost your re-election chances in November), then go ahead and re-instate the tax credit. But if you want a SUSTAINABLE increase in sales, then the government can't accomplish that in any way, shape, or form. That HAS to come from the private sector.

What we NEED is for the federal government to stop passing new laws, creating sweeping new bureaucracies, and drafting massive new regulations that hurt businesses and families and impede economic growth. We also need them to stop spending this country into bankruptcy and raising taxes on everything in sight.

But apparently Bright doesn't get that. In his mind, government is the fount of all blessings and the rest of us poor schmucks can't get along without their help.

You'd think he would have learned by now...