The stimulus that I am afraid will be passed is a raw deal for the rest of us. President Obama talks a bout "sense of urgency"....yep, it is. For his re-election.
By macro factors the economy will likely recover in 2 & 1/2 to 3 years. What happens in 3 years? President's reelection! He'll tout how his policies worked and he saved America from disaster! So, when you hear # 43 talk about "urgency," and how the "time to stop talking is over, and the time for action is now," or words to that effect. Just keep in mind that the rehetoric isn't necessarily about me or you. But all about himself and holding on to power for a full eight years.
If they REALLY wanted to stimulate the economy they would cut taxes, (personal, business and capital gains), strip the bill of further spending, and make below market rate small business loans which help employers keep folks working.
Now that's a bill I and millions of others can support! And each of us can and will experience the dramatic impact of that kind of "stimulus" in our own back yard!
Insofar as "infastructure" goes. Those projects will go to the large cities where they will become easy viewing for the nearest TV camera while, I am afraid, most of those jobs will be targeted for minority workers. And while that in itself is a good thing (minority employment) I hardly think a new government stimulus can produce 2 to 3 million jobs.
Thursday, February 5, 2009
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