Financial Stimulus Package – Work In Progress

I called Congressman Stearns’ office this morning to cast my unsolicited “no vote” to the passing of the Financial Stimulus Package (FSP).

The FSP falls way short of being directly responsive to people who need help today. The FSP is padded with more government bureaucracy and programs that we flat out don’t need. The Package is a short term emotional reaction to deep rooted economic problems that have no quick fix.

Where’s the direct help to people who have lost jobs ? How does sodding the lawn at wherever in D.C., renovating the Smithsonian, giving money to the National Endowment For The Arts, etc., etc. . . . how does that help anyone without a job today ?

The jobs they talk about that FSP will create . . . green jobs, IT jobs, whatever . . . what makes them think the displaced jobless people have even a miniscule chance at qualifying for this new work ? They don’t . . . without retraining and retooling themselves.

Send everyone a check for $20,000 . . . that’ll be cheaper than what’s purposed, it’ll avoid adding another layer of oversight bureaucracy to this smoke and mirrors package, and it will put money immediately into the hands of people and businesses who need it.

Let them decide . . . let them vote with the dollar . . . what they need . . . let demand drive the economy rather than Government know-it-alls try to jam products and programs down our throats following a misguided supply side economic approach.

What good is putting any money into almost any business if it only keeps them afloat temporarily and extends the inevitable ? If people don’t buy the product, for whatever reason, what does pumping more money into the business do other than keep the owners and stockholders momentarily happy ?

Obama is under too much pressure to do something decisive in his first days in office . . . for him to show Change is happening . . . this Financial Stimulus approach isn’t it. I’ll forgive him. Our economic recovery is going to take a slower more thought out approach, not Don Quixote attacking the windmill.

The Brutal FSP Details from The Wall Street Journal

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One Response to “Financial Stimulus Package – Work In Progress”

  1. admin says:

    Dubious quote of the week : “More than 90 per cent of the jobs created by this plan will be in the Private Sector.” (Obama)

    Hmmm … $ value of Plan = $800 Billion x 20% devoted to job creation = $160 billion. That’s nice. If I have my zeroes right, you could pay 4 million people $40,000 each with $160B. And forget the other $640B going to pork barrel projects.

    As always, you can make numbers say anything. I’m not buying this one.

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