We can't buy our way out
Our President signed the largest spending bill in American history...$787,000,000,000.
In reality, this will actually cost tax payers an estimated $1,300,000,000,000, yes that is Trillion. This comes out to $10,000 for every household in the U.S.
That is a lot of money. I definitely wouldn’t want to be responsible for spending that much tax payer money. However, it seems as though our Democratic members of congress passed this bill without even reading it! I say “our” because I'm from California and we're pretty much a completely blue state except for of course the Govenator. The members of congress spent less than 24 hours to go through 1,100 pages of the bill before they voted on it. Only 3 republicans voted for the bill.
Whether you’re a democrat, republican, rich or poor, the fact we just spent $10,000 per household in the first 50 days of a president being in office should make you sick to your stomach as it did mine. You’re probably thinking this is crazy, I didn’t spend $10,000 dollars today. Well, you’re right; you borrowed the money from China and Saudi Arabia.
Let’s think about it in terms of our own finances. If you get yourself into credit card debt, would you borrow money to pay it off?
So, we now have the biggest spending bill in history and there is no clear outcome or logic behind the bill. For example, there is a welfare piece to this bill that spends $264 billion (32%) for an additional welfare system (like we need another one). This puts about $6,000 in the pocket of everyone person classified as poor in this country. The same portion of the bill puts in place additional funding of $523 billion for the same program over the next 10 years. I could go on and on.
Does that sound like a sound economic stimulus plan? It sounds to me like we are heading down a very slippery path towards socialism and social engineering, which has proven time and time again…socialism just doesn’t work. The media will use the term “Nanny State” to be politically correct and ensure that advertising revenue keeps flowing. Nanny state is just another word for socialism.
No I don’t think the gold ole US of A is the next Russia or China. I just think putting large sums of money into the government and expecting it to reverse the economic downturn or do anything financially beneficial is just plain ludicrous. It seems every time Obama goes on TV these days the stock market drops.
Capitalism works. Capitalism has brought this country (not to mention the world) decades of growth and wealth creation never before seen on this planet.
Capitalism is working. The signs can be seen in the drop of the stock markets, drying up of credit, and the forcing of the unprofitable businesses to go into bankruptcy. This is what should happen if you’re spending more than you’re making.
The fact that we are in this recession is proof capitalism is working. A recession is defined as “The state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year”.
From the house flipper who is now upside down, to the Wall Street broker who dealt in questionable derivatives, to the credit rating agencies that overrated mortgage based bonds, to the loan officer that made shady loans, to the people who bought houses they could never afford at some point we have to pay the piper.
What we must do is implement immediate, major Tax cuts.
Businesses that are profitable with an already established market that pay less payroll taxes can increase salaries, hire more people, spend money on innovation, or grow their business.
Individuals who pay less income tax will have more money to save, buy houses, or reduce debt.
We cannot buy our way out of the tough times to come, we are only pro-longing the inevitable and piling on an enormous amount of debt. We must stimulate the economy organically, through getting people to work in the private sector, saving money, and increasing general education.
In reality, this will actually cost tax payers an estimated $1,300,000,000,000, yes that is Trillion. This comes out to $10,000 for every household in the U.S.
That is a lot of money. I definitely wouldn’t want to be responsible for spending that much tax payer money. However, it seems as though our Democratic members of congress passed this bill without even reading it! I say “our” because I'm from California and we're pretty much a completely blue state except for of course the Govenator. The members of congress spent less than 24 hours to go through 1,100 pages of the bill before they voted on it. Only 3 republicans voted for the bill.
Whether you’re a democrat, republican, rich or poor, the fact we just spent $10,000 per household in the first 50 days of a president being in office should make you sick to your stomach as it did mine. You’re probably thinking this is crazy, I didn’t spend $10,000 dollars today. Well, you’re right; you borrowed the money from China and Saudi Arabia.
Let’s think about it in terms of our own finances. If you get yourself into credit card debt, would you borrow money to pay it off?
So, we now have the biggest spending bill in history and there is no clear outcome or logic behind the bill. For example, there is a welfare piece to this bill that spends $264 billion (32%) for an additional welfare system (like we need another one). This puts about $6,000 in the pocket of everyone person classified as poor in this country. The same portion of the bill puts in place additional funding of $523 billion for the same program over the next 10 years. I could go on and on.
Does that sound like a sound economic stimulus plan? It sounds to me like we are heading down a very slippery path towards socialism and social engineering, which has proven time and time again…socialism just doesn’t work. The media will use the term “Nanny State” to be politically correct and ensure that advertising revenue keeps flowing. Nanny state is just another word for socialism.
No I don’t think the gold ole US of A is the next Russia or China. I just think putting large sums of money into the government and expecting it to reverse the economic downturn or do anything financially beneficial is just plain ludicrous. It seems every time Obama goes on TV these days the stock market drops.
Capitalism works. Capitalism has brought this country (not to mention the world) decades of growth and wealth creation never before seen on this planet.
Capitalism is working. The signs can be seen in the drop of the stock markets, drying up of credit, and the forcing of the unprofitable businesses to go into bankruptcy. This is what should happen if you’re spending more than you’re making.
The fact that we are in this recession is proof capitalism is working. A recession is defined as “The state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year”.
From the house flipper who is now upside down, to the Wall Street broker who dealt in questionable derivatives, to the credit rating agencies that overrated mortgage based bonds, to the loan officer that made shady loans, to the people who bought houses they could never afford at some point we have to pay the piper.
What we must do is implement immediate, major Tax cuts.
Businesses that are profitable with an already established market that pay less payroll taxes can increase salaries, hire more people, spend money on innovation, or grow their business.
Individuals who pay less income tax will have more money to save, buy houses, or reduce debt.
We cannot buy our way out of the tough times to come, we are only pro-longing the inevitable and piling on an enormous amount of debt. We must stimulate the economy organically, through getting people to work in the private sector, saving money, and increasing general education.
posted by Ryan J Jones at
3:23 PM
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