I'm sure that many people are upset by the economy and the actions that our government is taking, supposedly to fix the problem. I'm just wondering where politicians get off being so hypocritical and yet manage to be re-elected year after year. Here's some faults on both sides to start the new year:
Senate Republican Leader Mitch McConnell of Kentucky said Sunday "We want to make sure it's not just a trillion-dollar spending bill, but something that actually can reach the goal that he (Obama) has suggested"...
After giving a blank check to Paulson that has not done anything to help the problems he identified, maybe you could chalk this response up to the "fool me once" knee-jerk response. But really, if anyone should get a blank check to experiment with government spending I would lean towards the president in a brand new administration to get that blank check. We've thrown enough money at unpopular wars, bailing out banks, etc. that this is just a drop in the bucket.
Now for my complaint about Obama's plan, he's essentially rehashing a Bush refund with a slight spin on delivery:
Obama would offer a tax cut equal to $500 a year for individuals and $1,000 for couples. The credit would work essentially as a payroll tax credit, meaning the money could be delivered fairly quickly. Companies could simply reduce the tax they withhold from employees' paychecks.
Since it was evident that people were happy to stick the government checks that the Bush administration sent out, Obama is trying to sneak it in to our wallets, but one still has to ask how much this will really benefit our situation. The unemployed certainly won't enjoy a payroll tax cut. The rest of the populous will hopefully save the money, and we're left with the government holding less money and everyone in the same situation they were already in. I prefer the rest of the plan which suggests spending on infrastructure, but I think even more emphasis should be made on green projects that will have a longer lasting beneficial impact. The problem, as most have suggested, is that creating 3 million jobs repaving roads and installing solar panels is not going to do much for the unemployment problem, because these people are being laid off from tech and manufacturing jobs, not building/roadwork. Only time will tell how this all plays out, but these are some pretty ugly times.
Monday, January 05, 2009
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