So, the vapid souls in Washington DC are now supposed to find a way to dig the United States out of economic Armageddon. Guess what their solution is: buy our way out of the problem. So the new President has told everyone to plow more money into the economy. Let's look at this logically.
You have to understand that Congress was supposed to oversee the Treasury Department as well as the Federal Reserve. The Federal Reserve has kept interest rates low and this allowed the economy to move based on borrowed money. Not only were interest rates low, the Fed also sold treasuries like they were going out of style. Cheap money and easy credit led to Americans filling up on consumer goods and inflated housing costs like they were drinking hyper-carbonated Diet Pepsi and Coke (you choose the beverage) and expanding everyone's fat gut. For all the money we spent, what does the country have to show for it?
For the Bush-wackers out there (and I'm not a Bush fan), he didn't control the interest rates, and he didn't control the Fed. It wasn't his job. Of course, he didn't lead us in the right direction either. On the home front, his idea of fighting a war on terror was to have the citizens buy stuff bought in China. In essence, Bush said we could spend our way out of the problem.
Here's President Obama saying that we should throw another $800 billion at the problem. Has there been any fundamental change here? Aren't we still trying to spend our way out of a problem? Aren't we supposed to get some fundamental changes in the way things are done with Obama? It still seems like clueless leadership to me.
A stimulus package is supposed to jump-start the economy. If people in Washington want to make sure that America is humming, it should start with factories putting out products. Americans might pay have to pay more for what we get, but people will have work. Unless that happens, this stimulus package will not work over the long haul. This stimulus package sort of like giving a Viagra to a guy to get him hopped up even though he doesn't have a date. That's what the stimulus package amounts to. For over $800 billion, we have to come up with better ideas. The long-term solution should put Americans to work in decent jobs.
Monday, February 9, 2009
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