We see how President-elect Obama will try to save the economy in this latest article from Reuters: Spend, spend, spend. This is remeniscent of the New Deal, an era to which he has nostalgically alluded.

Now, perhaps this will actually work; I’m not saying it won’t by any means. But the difference between the deficit which we incurred during the New Deal and this one is that very little of our money in the 1930s was owed to foreign countries.

Going into further debt with these foreign nations, especially when our credit rating is in danger of dropping, is definitely not the wisest of ideas. But we’re just going to see how this one works out… Spending more while one is in debt just doesn’t follow the logic of common sense though.