Showing posts with label stimulus. Show all posts
Showing posts with label stimulus. Show all posts

Friday, February 6, 2009

Republicans engage in economic brinkmanship with country's health and future.

I'm utterly dumbfounded and disturbed by the Republicans' obstructionism on the stimulus.

In the face of a declining economic picture, they continue to push an agenda that has done nothing but worsen the jobs picture and the overall economic health and future of our nation.

The Republicans are like Nero fiddling while Rome burns; they fiddle around by playing economic brinkmanship with our nation's economy.

And for what? Short-term political advantage.

Shameful.

I'm afraid Obama will be forced to fight back publicly by calling them out. He's already starting to.

No one wants to spend all that money, but what's the alternative? Tax cuts?

That's been tried along with rebate checks and neither of them have worked.

The tax cut agenda is like drinking more alcohol to cure alcoholism: It only makes things worse and provides no incentive to recover.

The federal government is the only one capable of spending in the amounts necessary to affect the economy as a whole. Giving tax cuts to businesses and wealthy individuals encourages savings because of the bad economy.

We need spending, not savings so we are thus left with stimulus spending.

Thursday, January 29, 2009

150% investment return still isn't good enough for Congressional Replublicans--I'll take it!

I have a thought experiment for you. Better yet, let's call it an investment game.

I offer you a chance to make an investment. Say I provide you good, strong figures from a reputable expert on the investment that says for every $1 you invest, you will get $2.50 in return.

Simply put: If I offered you an investment opportunity where you could make 150% return and you trusted a third-party expert who said as much, would you take the bet?

Would you?

I know I would.

If you make 10% return on a typical investment that's pretty good in this climate, but 150%?

Sounds too good to be true doesn't it?

Well, the Congressional Budget Office (CBO) estimates that for every $1 invested in stimulating the economy, the return will be $2.50 to the economy as a whole.

What I don't get is this: The CBO is non-partisan and has the resources to make this determination. In fact, they are legally obligated to tell the truth based on their best evidence.

With that being said, why is it that Republicans ignore such good investment advice by voting against the economic stimulus?

Maybe they're stuck in the same stupidity loop that got us into this mess in the first place. There's medication for those who continue to believe things contrary to reality; it's called Thorizine. A good dose of therapy couldn't hurt either--let's call it minority status.

If the economy doesn't improve in the next two years, I'll eat my words. I'll own up to being wrong, but until then, more of the same won't get us out of this mess.

Tuesday, January 27, 2009

Congressional Republicans are fighting against job creation! Are you kidding me?!

Everyone has first hand experience with the economic downturn. Either by losing a job or knowing someone who has.

I bring this up to draw attention to the Congressional Republicans. These bozos are doing everything to stop a stimulus package (that contains no earmarks mind you) that directly affects an industry employing over 5 million people. This is 5 million jobs!

This particular industry is unduly sensitive to downturns in the economy because people stop buying this industry's products when money is tight.

The stimulus package has allocated $50 million for this industry. The industry has an efficient and well-designed system for moving that money into the hands of its primary producers.

The problem: The Republicans are calling it pork and want to stop it. In it's place they want more tax cuts--that haven't worked thus far--but that disproportionately benefit those with jobs and money, viz., the wealthy.

What industry am I speaking of? The Arts.

$50 million would directly impact an industry in a transparent way (the NEA is open and public with its grant awards, unlike private corporations...) creating jobs that would that redound to the benefit of society, while creating even more jobs.

Fund the Arts and create jobs--it's simple.

GOP still using the tax cut snake oil.

This op-ed sums up my general feeling about the GOP.

John Boehner, in a stunning display of switcheroo, came on television and said the bailout is borrowing from our children and grandchildren.

Huh?

This is the same thing Democrats have said about Bush's policies for years--policies Boehner happily supported when it helped his wealthy constituents.

The GOP touts tax cuts as the solution to everything. In days of yore, Snake Oil salesmen claimed their remedies would take care of everything too.

The problem with tax cuts is that people actually need taxable income in order to benefit from tax cuts.

The U.S. is shedding jobs so fast that the revenue stream from taxes is drying up faster than any tax cut would offset as a benefit.

The GOP needs to new religion other than tax cuts. It hasn't worked and it won't work while Americans have no jobs to make income.

Tax cuts haven't spurred economic growth. So where does that leave us?

Stimulus. But this time, the stimulus should be spent at the lower end of the economic spectrum rather than at the top where the wealthy get their share first.

Friday, January 9, 2009

Job losses greatest in six decades

The economy is heading south and fast.

Job losses have reached 1945 levels. We're talking over 2 million jobs lost in the last year.

History will lay this at the feet of the Bush administration. They've been in power for 8 years, so it's hard for them to blame a previous administration.

We must all pull together in this or we'll surely hang separately.