Obama urges careful spending as he names budget chief | WHAT REALLY HAPPENED


Obama urges careful spending as he names budget chief

Houston Chronicle - By BETH FOUHY and JIM KUHNHENN Associated Press

CHICAGO — President-elect Barack Obama pledged to make deficit reduction a goal of his administration today — but only after recovery from the financial crisis is well under way. "We are going to have to jump start the economy," he said.
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One problem with jump starting the economy, is it has been tried and the bailouts keep getting bigger and closer together.

The other problem with jump starting the economy is this sort of government planning of the economy was tried in the USSR under Stalin's Five Year Plans. They do not work because the incentive is not to jump start anything. The incentive is to qualify to get the jump start.

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