Saturday, December 13, 2008

Sustainable Government: Banking for a “New” New Deal by Ellen Brown

Sustainable Government: Banking for a “New” New Deal
by Ellen Brown





“This isn’t about big government or small government. It’s about building a smarter government that focuses on what works.”
– Barack Obama, November 26, 2008





Cover of The Web of Debt by Ellen Brown

As our 44th President prepares to enter the Oval Office, bank lending has seized up, some of the nation’s largest banks are on life support, and the big three automakers are bankrupt. Housing continues to crash, and so does the economy.

Little wonder that Obama is being compared to Franklin D. Roosevelt, who entered the White House in similar financial straits in 1932. Even before taking office, Obama has started his version of the “fireside chats” (updated from radio to online video) given by Roosevelt nearly weekly to reassure the public. He said on November 22 that he plans to create 2.5 million new jobs by 2011 and kick-start the economy by building roads and bridges, modernizing schools, and creating technology and infrastructure for renewable energy. These are excellent ideas, but what will they be funded with—more government debt?

Obama has pledged to honor the commitments

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