US Congressman Ron Paul has attacked President Barack Obama for having 'brainwashed' himself into injecting the economy with stimulus.

"I do not know whether they have brainwashed themselves or what?" said Paul to Bloomberg when asked to comment on the presidential decision to help the economy weather the crippling recession with a USD-787-billion stimulus plan.

"For a government that is totally broke, I can hardly see that these are reasonable requests to spend trillions and trillions of dollars," added the Republican representative from Texas.

"That is just fodder for the market ... thinking that the people in the market are going to believe it and it is going to help the markets recover. So it is a fairy tale. It is just silliness."

The comments came as Obama, heir to the former administration's economic miscalculations and defaulting mortgagers, hopes that the massive recuperative package results in the desired budget and deficit cuts.

"I do not know how anybody can talk that way with a straight face and they do," Paul said about the stated budgetary aims.

While the economy is incurring a deficit of USD 1.5 trillion dollars, Paul said, "the odds of cutting the deficit in half by stimulating, by running up a deficit of one or two trillion dollars ... is beyond me."

"We have too many houses and the housing crisis got too high. The correction is lower the price of housing and do not stimulate housing. But they are doing the opposite," he concluded addressing one root cause of the plight namely providing easy loans for borrowers.

HN/SME/RE