Posted by
Jonathan Veal on Saturday, February 07, 2009 3:00:00 PM
The senate just agreed on a 780 Billion dollar “stimulus” package to boost our economy. Obama’s words earlier today still ring in my ears. "If we do not act boldly and swiftly, a bad situation could become dramatically worse." Hate to say this, but the best thing Obama could do is sit tight and do… nothing! Let me explain.
There was a great article in the NY times (yes it occasionally happens) talking about Japan’s stimulus package from several decades ago. It was a colossal failure. It only put Japan in worse debt. The reason why is there are only so many ways you can get money. As the government doesn’t earn the money it gets, it has to beg, borrow or steal it. And that is exactly what the stimulus package does. It takes your money and gives it to such projects as food stamps. Projects that help people get more used to being out of luck not help them get jobs.
Ultimately we have to trust the free market rather than take from what isn’t there. If you spent a million dollars from the time Jesus was born. You would still not have spent as much as Obama wants to spend in his first month of presidency. Throwing out any semblance of partisanship. Not one, NOT ONE, republican member of the house voted for the bill. Japan testifies that stimulus packages don’t work. And now we will spend more money than the US government has ever authorized at one time before.
I have already said my thoughts on stimulus. Cut spending and cut taxes. Obama promised this in his debates, but highly doubt anyone even expected him to be true to his word. I am immensely worried about the coming week. But then, we had our chance during the elections. So much for change. Just the same socialist policies.