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Argument: Fear-mongering on consequences of no US stimulus is wrong

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Rick Moran. "From 'Hope & Change' to 'Fear & Loathing'". Real Clear Politics. February 9, 2009 - the Democrats have a much harder sell given the blatant and sometimes comical fraud they are trying to perpetrate on a public scared out of its gourd by a president whose hyperbole and predictions of "catastrophe" if the bill is not passed immediately is matched only by his cynical refutation of any semblance of the "bi-partisanship" he so blithely promised to bring to Washington during the campaign. No one doubts the economy is bad and getting worse. But when the president of the United States stands up and asks us to give in to our fears, to blindly obey his call to pass a bill with tens of billions of dollars in spending that even the bill's proponents say is wasteful, one has to ask what happened to the party who once told us: "All we have to fear is fear itself.

[...] The candidate of "Hope and Change" has decided to be a president who espouses "Fear and Loathing." Fear of financial Armageddon unless we do as we are told and blindly give in to his $900 billion panic panacea for the economy and loathing of the opposition -- an opposition Obama unfairly portrays as opposing him out of spite and because a popular talk radio host is telling them what to do.

It is a far cry from the way Franklin Roosevelt and Ronald Reagan handled economic crises that in some ways were more dire than what Barack Obama is facing today. Both men came to office at a time when the American spirit was limping and lost. Both men were confronted with unprecedented economic problems (double digit inflation and interest rates in 1981 were an impossibility according to the books).

And yet, both men eschewed fear mongering and sought to lift the people out of themselves in order to bring back hope and allow the natural optimism of the American people to come to the fore. Arguments rage to this day whether FDR's massive spending helped or hurt the economy. And Reagan's tax cuts began a spiral of deficits that, save for a brief period in the 1990s, fostered a climate of "let the kids pay for it" on Capitol Hill.

But few can argue that FDR and the Gipper didn't succeed in changing the dynamics of the crisis they were facing by inspiring the people to believe in themselves again and that better times were ahead.

Obama does not want Americans to believe in themselves. He wants them to believe in him:

If we don't move swiftly to put this plan in motion, our economic crisis could become a national catastrophe. Millions of Americans will lose their jobs, their homes, and their health care. Millions more will have to put their dreams on hold.

The truth should be dawning on all of us just about now that Democrats, Republicans, economists, Wall Street wizards, and even the high priests of monetary policy at the Federal Reserve have no idea how bad things are going to get or whether anything Congress does can improve the situation -- much less stave off disaster. And that means that the only thing we have to hang our hats on is the credibility and trustworthiness of the president of the United States.

Instead of instilling confidence, Obama is selling fear. Instead of raising us up, he is crushing us with his rank appeal to partisanship. Instead of statesmanship, we get gimmicks like his stimulus bill that the Congressional Budget Office tells us will harm the economy in the long run.

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