- The Washington Times - Wednesday, February 11, 2009

ANALYSIS/OPINION:

According to the article (“Obama: It’s stimulus or ‘catastrophe’ “) (Page 1, Sunday), President Obama said, “Let’s be clear. We can’t expect relief from the tired, old theories that, in eight short years, doubled the national debt, threw our economy into a tailspin, and led us into this mess in the first place.”

Yet Mr. Obama is willing to pass a stimulus package that would significantly increase the national debt for years to come. Further, he has not called for any investigations into what exactly “led us into this mess in the first place,” i.e. the tired old organizations called Fannie Mae and Freddie Mac. The “market” wants these hybrid organizations eliminated, not expanded. The market also needs time to heal without impulsive government intervention. It was up on Friday when there was the glimmer of a chance the stimulus package would not pass. This is why it will be down, down when it does.

NANCY S. KYME

Woodbridge, Va.

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