Prairie Fire Journal

Nobel laureate economist and editorialist Paul Krugman wrote this on December 28, 2008:

No modern American president would repeat the fiscal mistake of 1932, in which the federal government [under president Herbert Hoover] tried to balance its budget in the face of a severe recession. The Obama administration will put deficit concerns on hold while it fights the economic crisis.

Boy, was Krugman wrong. A little over a year later, Krugman and a multitude of progressives have grown frustrated over Obama and the Democrats handling of the economy. And now Obama wants to freeze government spending, except for the one trillion dollars spent annually on two wars, the Pentagon, and homeland security.

What we have now is a recipe for economic disaster that will certainly sink America into a deep depression. That's what happened when Hoover tried it. Look around and see that the economic situation is getting worse. I talk to local merchants who say their business has dropped off significantly the past year. People who have jobs have had their hours reduced or fear the possibility of layoffs in the near future.

These well-founded fears are having a very negative effect on the economy. We need jobs and wage growth. There has to be a massive government effort to restore confidence and economic stability. If the federal government now decides to pull back and balance the budget at this critical time of economic distress, the future of America is indeed imperiled.

Obama is making a terrible mistake. Either way, I've heard enough rhetoric. I'll believe you have the right answers when I see some results. As the saying goes, "the proof is in the pudding."