Conservatives these days are speaking hypocritically. Ever since President Obama began supporting financial bailouts and economic stimulus packages in order to aid the fallen economy, conservatives have begun preaching “fiscal responsibility.”
I have never heard conservatives express these feelings while George W. Bush was president, even though the national debt increased by nearly $5 trillion during his two terms. That’s nearly half the current national debt. And what was this money spent on? A war. An unwinnable occupation. A project of destruction.
Compare that to what Obama is spending money on: a recovery plan for an economy that was beyond his control when it began its downward spiral. New jobs and infrastructure for America. Creation and regeneration, instead of destruction.
Through the bailouts and economic stimulus package, Obama is doing what is required of him in order to maintain and regain American prosperity. Inaction in times of economic hardship is historically the wrong option. The new government spending is necessary spending and Obama should not be criticized for it on principle. Certain aspects of the spending, such as how CEOs were still able to receive humongous bonuses, could certainly have been improved and are a valid topic for discussion.
Many conservatives, however, have criticized even the idea of a stimulus package. These people especially have no place criticizing necessary spending when their last president spent an unnecessary $5 trillion that Americans opposed.
Debt is generally not a positive. However, it is sometimes unavoidable, and this financial crisis is one of those times. Unless we want a long-lasting depression, we should welcome Obama’s fiscal actions with open arms because he is being fiscally responsible.