I am a rabid economic liberal who voted for Barrack Obama. I do not believe this Stimulus Package has enough strength to stop the crisis we are in. I believed the bill would push money into Infrastructure Repair, Alternative Energy Research, and an improved Electric Grid. What I see instead is a huge pork barrel bill! If you read my last post I you will note that the inclusion of free funding for trojans is NOT what I find problematic. Preventing teen pregnancy and the increase of both Welfare Mothers and gangs of teenage boys without fathers is worth the investment. I am not swayed by conservatives and their philosophy that got us into this mess! But when I heard Jim Crammer on Chris Matthews’s program “Hard Ball” explain how little this bill contains for Infrastructure Renewal I became enraged and feel a level of betrayal from the Democratic Party. What the hell are they doing? We know the Republicans are idiots and don’t care about the Middle Class but why are the Democrats going on this masochistic plunge? (See the Video Below).
This situation requires some thinking and a need by politicians to rise above their party. I would say that the Republicans have a point in that tax cuts would be helpful only I want them for the Middle Class not the top 5%. But we have a problem with Tax Cuts!
In the old days a Tax Rebate and/or permanent tax cut would set off the desired “Multiplier Effect”! John/Jane Doe gets his rebate and he goes out and spends it on some goods. The store they purchase it from makes out and they re-order more goods from the factory which pays the salaries of their employees who buy stuff at their local stores. The factory also must buy raw materials and/or component parts to build their goods and the companies they buy from benefit also. Not so today! John and Jane Doe buy their new product from the store that purchased it from CHINA! The “Multiplier Effect” is only multiplying our TRADE DEFICIT not our economic strength!
What about massive goverment spending on projects?
If the package is geared to infrastructure projects, alternative energy development, building a new electric and internet grid then the fruits of these projects may not be realized for one to three years. Some would say that each state has “shovel ready” projects that the Federal Government has only to quickly fund. I smell bacon frying in statements like this and I am a Liberal Democrat!
I believe the Democrats are being set up to fail. George Bush kept his mouth shut during the last three months of his Presidency, not that anyone cared what he had to say! But I believe Obama is being set up because his image is being “paired” with it on the national news media when it was Bush and his fellow travelers of deregulation that brought this on. Don’t kid yourself even when the unemployment comes down then we will be hit by a high wave of inflation! We can find all this money to save the fat cats on Wall Street but what about Universal Health Care? Have you noticed the Republicans love to lead the charge against Wall Street CEO’s drawing bonuses? The Democrats had better stop being so timid and attack even louder instead of being scared of being accused of class warfare. If they don’t the Republicans are setting the Democrats up for defeat in the 2010 election because we sill still have economic problems then even if the plan were to work that is when the inflation will hit us. Many our too young to remember what inflation can do.
I am not an economist but here is what I would propose:
- Massive spending on Infrastructure, Electric and Internet Grid development.
- Alternative Energy Research and Development.
- Green Technology projects including funding for competitive Auto Technology so our auto industry could take the lead in the world.
- Tax breaks for the majority of Americans while raising those for the top 5%.
- Nationalize the banks and let them serve society rather than society serving them!
But wait you say except for the last item above isn’t that what Obama and the Democrats are proposing! Well yes that is what I thought they were proposing but from what I see of this so-called stimulus package it is just a Mega-Pork Barrel! WHERE IS THE BEEF?
As I said in my prior post I have no problem with free Trojans but I do with Golden Parachutes! Maybe we should nationalize the banks! If a company is too big to fail then it is too big to exist! We need to regulate, Regulate and REGULATE! Oh yes besides the free Trojans we can give out free Kleenex tissues to all the bleeding hearts for the rich! The time has come to worry about the PRODUCERS in this nation not the parasites!
Who are these people to make millions while the President of The United States, who has far more responsibility yet only makes $400K per year? The time has come for America’s vast Silent Majority to take back our nation from these effete snobs of privilege!