Wednesday, March 04, 2009

Alan Does It Again

Somehow I seem to know it is going to be an Alan Cheah letter before I get to the end of it......

Listening to conservative responses to President Barack Obama's bold stimulus and budget plan brings to mind the expression, "penny wise and pound foolish."

Curiously, for the past eight years, when deficits rose from President Clinton's $18 billion deficit in his last year to President Bush's $1 trillion deficit in his last year, you never heard Republicans utter the words "generational theft." Only now, spending is unprecedented. Yes, it is -- only because President Obama has been handed an unprecedented economic calamity.

President Obama is making sweeping changes to health, education, energy and tax policies. Conservatives say he is trying to do too much, too quickly. Imagine if Google's founders constrained themselves to that criticism.

Prior to this implosion, if you look at the debt successful companies carry, you will realize they don't make spending decisions based on the size of spending, but on projected return on investment. A good capitalist executive would spend (invest) any amount on capital equipment, labor and infrastructure to either save his company or make it even more profitable.

Isn't President Obama the chief executive of America and isn't he proposing exactly what a CEO would? Is this the action of a socialist? Think!

Alan Cheah



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