Posted on 02/10/2009 12:16:07 PM PST by Graybeard58
Much has been made in recent days about what the Senate did to change — there's that word again — the economic-"stimulus" package, and how tough it may be to reconcile the $827,000,000,000 Sen- ate version, which is expected to be approved today, with the $819,000,000,000 bill the House passed in late January.
But the proposals differ by degree, not philosophy. The Senate added more tax cuts, but like the House version, every reduction is temporary so every beneficiary will get a tax increase by year's end. Moreover, when the Democrats let the Bush tax cuts expire 23 months from now, the vast majority of Americans who draw paychecks will share a $1.3 trillion tax increase; that's an average of $4,200 per person. That alone should be enough to dissuade all but the most reckless people from investing in the economy, which is the whole point of the "stimulus."
The Senate bill spends less, but it still provides hundreds of billions for public-works projects and aid to state and local governments so they may continue their profligate ways. The day of reckoning for state and local taxpayers would be put off, but when it arrives, it would be much worse because the "stimulus" would help maintain unaffordable spending.
On deck is TARP II, a $1 trillion bill aimed at unfreezing the credit markets that remain glaciated after the feckless TARP I. (Expect Sen. Christopher Dodd to use TARP II, as he did with TARP I, to take care of his pals in the banking, financial and housing industries.)
The two TARPs and the "stimulus" would commit taxpayers to $2.53 trillion in new debt in less than six months. That's more than the entire government spent in 2005.
Echoing the rhetoric that swirled during the brief debate over TARP I, President Obama and Democrats in Congress say if the "stimulus" package and TARP II aren't enacted right away (without full vetting and debate), the economy will get worse, which it is likely to do anyway with or without the stimulus.
But in their zeal to "do something," they forget that haste makes waste. In this case, it's making waste on steroids.
Ping to a Republican-American Editorial.
If you want on or off this list, let me know.
“Why the rush to ruin economy?”
So from the ashes they can rebuild a socialist utopia.
The ‘why’ is relatively easy to understand, once you know how long the average ‘recession’ has lasted, based on the historical record.
18 months, folks. The average length is 18 months.
The mid terms are 21 months away. Thats the easy part, ‘why’ they wanted this done NOW, quickly.
The part not being factored here, and what is scaring the hell out of our new President, is this is NOT YOUR AVERAGE RECESSION.
get a socialist framework up and running before the messiah’s true birth certificate shows up?
“Why the rush to ruin economy?”
Dems stuck a lot of hidden provisions that they don’t want known.
Lifting travel restrictions to Cuba is one.
Wouldn’t a slower, more reasoned approach to this disaster have made more sense? Dow down 400+
But, I think, in truth, the Dems WANT the country to completely fail so THE ONE can take over.
It’s the politician’s corollary to “If it ain’t broke, don’t fix it.”
“If you can’t fix it, break it really badly, really quickly, so you can blame the previous administration.”
Take over?
Ah, friend, the Democrats control all three branches of the Federal Government TODAY.
“they forget that haste makes waste”
It’s kind of a weird world where these writers can’t see the obvious, they don’t “forget” haste makes waste, they know haste gets waste, programs and pork they want.
It is a sales tactic. Obama wants a pile of money to dole out over 8 years to his pals. How to get it quick with a minimum of input? Claim emergency and call it something else: stimulus.
Maybe the Republican politicians are shy to point this out since Bush II was the administration to invent this sales strategy. And if things start to look iffy on passage, Obama turns up the scare meter. He learned that from Bush too. Talking down the economy.
Claiming they “forget” is like claiming the brokers “forgot” the risks of derivatives. No they didn’t it, they didn’t care and got their money.
Exactly!
Why do so few see this for what it is? Not an attempt to solve a problem, but just another stepping stone toward the ultimate goal: a totalitarian state.
And very soon they will be controlling us!
EXCATLEY!
They are crying “Wolf!” over and over again.
Soon we shall be deaf to their insistencies, because there is not now, and never has been, the size of “emergency” they have claimed. They have mistaken “illiquidity” for “insolvency”. For a very short temporary time, there was a series of runs on the bank, which would have stopped quickly enough by declaring a “bank holiday”, or at least limiting the amounts that could be taken out of any one account over a period of time.
The pucker factor was at work.
OR EVEN WORSE!
Here’s a thought:
We might remember that Dems spent the last two years working to break the economy so they could beat Pres Bush with actual data. They succeeded, but even they, on reflection, recognize they did far too good a job. They thought (in their shallow degree of understanding about actual economies) that TARP I was all that would be needed. As it turned out, not only was it not needed, but simply by doing it they made TARP II almost inevitable.
The word games since then have simply been smoke screens to prevent anyone connecting a serious thought in this regard.
NEW WORLD ORDER
“Wouldn’t a slower, more reasoned approach to this disaster have made more sense?”
No, it makes more sense pork-wise to move fast and scare the nay-sayers into submission.
It’s not about the “stimulus”, it’s about the pork.
Obama’s team is just using the cover story of “stimulus” to get it through.
i heard that by the time they voted on it it had become $838 billion
Please elaborate! Thanks.
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