President Obama has been pressing Congress to pass the nearly $1 trillion so called “stimulus package”. The Hertage Foundation has done some great research on the reasons why the proposed “stimulus” package will not provide any economic stimulus to the economy. The reason is simple. The amount of income that will reach individuals is not permanent and therefore will not change people’s spending behaviors.
The plan will fail to achieve it’s stated goals and will only plunge our government deeper into debt, will entrap more people into government programs that “giveth” something but “taketh” away with the strings that are always attached. In addition, the plan is filled with pork projects that have nothing to with economics and everything to do with government control over people’s lives.
Besides, Bush spent like a drunken liberal for years and also provided some one-time tax cuts/rebates as stimulus. He was unable to avert the current recession (a natural part of business cycles) and yet the government wants to do more of what already failed – just with bigger plans and a more expensive price tag.
The sad truth is this – the economy will recover with or without the stimulus. Elected officials are worried about their re-elections, NOT you or the economy per se. If the jobs market is bad when they need votes, look out incumbents, there will be a tough crowd at your fund-raising events.
All of the hope will not change the facts here. The government is already too big and getting bigger. Higher tax rates and bigger programs will not help. Even if the most holy, blessed be he, the “Hope” Obama completely shuts down the Pentagon it won’t make a significant dent in our debt. After all, the “War on Terror” and “National Defense” combined do not total 22.5% (as measured against the 2008 numbers). That does not include the off budget items that further add to our debt. If we simply refuse to defend our country anymore, furlough all military personnel and close up all bases world wide, we will still have a $2.5 trillion budget. That is not possible. So the $2.66 trillion in tax receipts taken in (expect a drop off in 2009 due to the recession) will still be less than what our esteemed and frugal leaders will spend on our behalf.
Cut the budget and save our economy.
February 11, 2009 at 3:33 pm |
Sad. But oh so true.
February 11, 2009 at 10:51 pm |
This stimulus bill is a joke. If it weren’t so serious it’d be funny. We’re doing nothing more than writing a bad check when we know there’s no money in the bank to back it up. We know in a few days we’ll be busted, but they’re doing it anyway. And the thing is – it’s OUR MONEY!