Monday, February 09, 2009

Stimulus: A Mistake of Historic Proportions

Demise of America #5
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This is part of an on-going, irregular series of articles about the demise of America as we know it. The demise has intensified under the Bush administration and now even more so under the Soetoro (a/k/a Obama) administration. I am tracking some of the major steps that are leading to our eventual destruction. The one we are dealing with today is how the new President hopes to turn our economy around.
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"Look Folks We Want to Shrink the Dollar" - Pelosi-Reid-Soetoro

WRONG SOLUTIONS

President “Not so secret socialist” Barry Soetoro (a/k/a Barack Obama), House Speaker “Children are a burden on society and will worsen our economy – use more taxpayer funded birth control” Pelosi and Senate Majority Leader “Surrender” Reid are united. They are all insanely and frantically calling for passage of the free-enterprise thwarting, flawed and fraudulent job creating stimulus bill. The bill is really a deficit swelling, big government building, budget-busting, economy destroying measure that is doomed to fail. Above all, it is a pork, earmark and political payoff infested piece of legislation.

Don Kaul of Minuteman Media wrote an article, “
Yes, 2008 was historic,” which was published in the op ed section of the local newspaper dated January 11, 2009. I happened to pick up the nearly month old newspaper yesterday. It was as pertinent as if it were written today.

What caught my attention was this brief excerpt following after talking about the state of the economy and various players who helped to bring it about, “Having agreed with the consigning of perhaps a trillion dollars or more to do nothing more than apply a tourniquet to our hemorrhaging economy, (the then) President-elect (Soetoro) Obama
has announced he’ll pour hundreds of billions more into the task of jump-starting it.

“Will any of it work? No one really knows. It doesn’t seem right though, does it? Excessive borrowing got us into this mess in the first place; now we expect excessive borrowing will get us out.

“They’re making money in the old-fashioned way these days; they print it. (Many of the geniuses counseling Obama, by the way, are the same geniuses who didn’t see the train coming until it hit them.)

“All this borrowing means we’re saddling our children and grandchildren and their children and grandchildren with a mountainous debt that they will have to repay someday; the theory being that it’s better to do that than leave them with a bombed-out, burned up economy where no one can earn a living.”

First, I agree with the basic thought that the Pelosi-Reid-Soetoro (a/k/a Obama) stimulus package or bill is unwise, excessive borrowing. I agree that unwise borrowing and government mandated easing of credit qualified lending got us into the fix we are in today.

Second, I don’t agree with the theory that Kaul cited, which I don’t believe he did either, that “it’s better to (excessively borrow) than leave them (grandchildren, etc.) with a bombed out, burned up economy . . .” If we do nothing immediately it would be better than spending a trillion dollars, which we do not have. I don’t think doing nothing will necessarily yield a “burned up economy where no one can earn a living.”

Soetoro (Obama) and the other Democratic leaders are trying to use fear as to get Americans to buy the false notion that more spending, more debt will solve the economic downturn. It is the same tactic (fear) used by some of the same people together with global warming alarmists claim that there is a crisis and that if we don’t stop driving SUVs immediately we will all burn up in global hell on earth. They erroneously claim man has caused global warming.

Both ideas are wrong. Both ideas are deceitful. Both ideas are a ploy to introduce a one-world government as the ultimate solution. First, the government “solves” America’s problems. Second, it merges with the international community to “solve” the world’s problems. This is pure fantasy.

Big government is not the solution, government is the big problem, to quote Ronald Reagan. Furthermore the stimulus, if passed, will lead to loss of our sovereignty and weaken us to be forced to succumb to some worldwide global authority. In other words, it will lead to the demise of America.

THE ROOT CAUSE OF THE PROBLEM

Phil Gerwig of Mansfield, Ohio in a letter to the editor, which appeared in Saturday's Mansfield News-Journal, wrote masterfully, "President Obama recently implied that our current economic problems are partially the inability or unwillingness of everyone to move the country beyond an industrial-based economy. In reality de-industrialization is a root cause of our decline. Printing worthless greenbacks for special interest groups and government growth isn't the solution to fixing our economy; addressing why it collapsed is." There does not seem to be anyone asking why the economy has turned downward.

No one seems interested in correcting the mortgage crisis, for example, caused by granting loans to people with little or no credit worthiness. Wasn't this foolish policy one of the main causes of our economic crisis? Isn't insanity when you keep doing the same thing over and over and expect a different outcome? Yes, many in our Congress and our Government should be declared mentally ill and some of cells that will become open soon at the Gitmo Resort should be reserved for the likes of Barney Franks, Nancy Pelosi, Harry Reid, Christopher Dodd, Ben Nelson, Olympia Snowe, Susan Collins, Arlen Specter and anyone who votes for the so-called economic stimulus package.

Mr. Gerwig's comment captures the gist of the economic problem. So how do we deal with the loss of our manufacturing base? So how do we stimulate business? How do we turn around our economy if not through repetitive financial bailouts?

RIGHT SOLUTIONS

One major way to stimulate the economy and revitalize it is to drastically reduce taxes. It worked in the 1980s, it can work now. Reduce regulations so that we can free up small and large businesses to grow and expand their businesses. This will create real, long-lasting jobs and new wealth. As fellow blogger Sam wrote yesterday, "Profit is not a four-letter word" contrary to President Soetoro's apparent belief that it is.

Allow and trust that American ingenuity will find a way to make a profit in today's competitive world. Allow and encourage free enterprise to work. Let's work toward reducing government spending. Let's seek ways to encourage American's to save their money. Let's seek ways to curb government growth and spending.

One priority ought to be to reduce the deficit, not to increase it as seems to be the approach of choice in Congress today.

2 comments:

Imee said...

I don't think it's that big of a mistake. After all it's still a plan. Sometimes, a plan, when in theory, doesn't sound like such a good idea. But when it's acted out, it turns out fine. Or vise versa. We'll have to see how it actually works out before we start saying that the stimulus plan was a disaster, IMHO.

gregjaye said...

Imee -

Thanks for your comment.

It is too much money to risk. I don't trust Soetoro (a/k/a Obama) with this amount of money . . . He is unproven, the bank bailout failed what makes anyone think that this will succeed.

We need to take smaller incremental steps . . . reduce taxes, reduce government spending . . .