Confusing Obama

Get this…

No bonus for Wall St execs

PRESIDENT-ELECT Barack Obama has chastised US auto executives for being ‘tone deaf’ for flying on corporate jets to Washington to beg for bailout money, and said he believed bank executives should forgo their end-of-year bonuses.

…

Bank executives forgoing bonuses is ‘an example of taking responsibility,’ Mr Obama said.

‘If you are already worth tens of millions of dollars, and you are having to lay off workers, the least you can do is say, ‘I’m willing to make some sacrifice as well,’ because I recognize that there are people who are a lot less well off, who are going through some pretty tough times,’ Mr Obama told ABC News.

Execs that get bonuses spend that money. They money gets put back into the economy instead of the banks and businesses just keeping that money. To get an economy moving, people need to spend money. Spending money is the core function of our economic system, Mr. Obama. The Government creating money isn’t helping. People holding onto their money isn’t helping either.

Maybe those execs will buy some expensive furniture, eat at restaurants, buy a TV or maybe even buy a car. Aren’t all those things I just listed part of our problem right now? Wouldn’t more people eating at restaurants help not lay off more people and help the middle and lower classes? Which part of this is news to you, Mr. Obama?

We’re in deep doo-doo and he’s not even in office yet.

-T

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