Tuesday, February 17, 2009

How A Democratic Stimulus Harms America

This Democratic stimulus harms America. Since we as taxpayers and voters were not able to comment on the plan nor did any members of Congress actually read it, we must examine from an economics point of view how badly this plan will hurt rather than help our economy. This bill has transfered many of our economic systems private sector functions to the Federal government. By doing this it has created a political economy, one which is fresh with corruption, earmarks, pork and economic illiteracy. How can Congress deny the excessive earmarks and lobbyists injections into this bill? By injecting over $1 trillion dollars in deficit spending in our economy, on programs and projects unproven and untested, it has only allowed the national debt to increase by 10% in one month and further eroded our gross domestic product. It will further erode our credit markets crowding out the little private sector lending taking place and will ultimately lead to much higher rates of interest and inflation. How many jobs are actually being created, at what cost to taxpayers? Where does it state in this plan how and when the national debt gets paid off? Why was this not taken into consideration? What part of economics am I missing here? How does high inflation create economic stimulation? If you really wanted to stimulate our economy Congress would have had the guts to eliminate all taxes on interest, dividends, and capital gains and lower federal spending to a balanced budget for 2009.
We can take comfort in that this plan has shown how out of touch with reality the Democratic members of Congress have become and how many are going to lose reelection in 2010 and 2012. I also must remind the Democratic Congress that FDR died in 1945 and his new deal was a miserable failure just like your bill of 2009.

1 comment:

RobertO said...

Very good article. I wish many more voters could see what this gov'n is doing to us.

James Madison said, "If Congress can do whatever in their discretion can be done by money, and will promote the General Welfare, the Government is no longer a limited one, possessing enumerated powers, but an indefinite one...." This is what Dodd, Lieberman and Murphy are working toward, the establishments control of the reins of power.