January 29, 2009

What a depressing day.

$10,520 of new debt per household, the interest on this debt $347 billion (wait till I tell my kids!) Change we can believe in!!

I am actually proud the Republicans did not throw in on the non-job pork in this record setting expenditure! Think of all the long lasting jobs that $21 million on Washington National Mall grass, $600 million on cars for bureaucrats, and $650 million for digital television converters, will bring!

And the results experts are touting?
No Jobs: House Tax Committee staff can not estimate that ONE job will be created.  Yet Pelosi/Obama promise between 3 & 4 million jobs.

Ineffective: Congressional Budget Office estimates that only 52% of the spending in the ‘stimulus bill’ can even be spent by the end of FY’10.  President Obama has a 75% benchmark (big miss) .

So folks if your "waiting for government" you are in for a long, long wait!

Going by history: “We have tried spending money. We are spending more than we have ever spent before and it does not work.” – FDR’s Treasury Sec. Henry Morgenthau Jr., architect of the New Deal.

As dissapointing as this stimulus bill is, I am still hoping that some items come to fruition.  Spending: President Obama campaigned on a platform of fiscal discipline, promising to go through the federal budget, line by line to eliminate waste.  lowering spending by eliminating waste, pork, corporate welfare, and farm subsidies, and reforming entitlements.
Energy: President Obama’s defended an increased oil production and nuclear power during his campaign. That is hope that his Administration will permit offshore drilling for domestic oil and natural gas. Lets see reform on the arduous permitting process for new nuclear power plants (lots of power no Carbon!).

Finally, what happened to: "Dissent is the highest form of patriotism." -- Howard Zinn??

Over the last eight years that was a mantra I kept hearing, again and again from the left. July 2003 Indy Week,  Irregular Times, The Nation.  Now if you show dissent against President Obama you are villified.  Even Brian Wolff Executive Director, Democratic Congressional Campaign Committee (official campaign arm of the Democrats in the House). Decided to get a petition together to silence a citizen.

The Denver post is wondering as well.  


Stella said...

Hi Lee,

The Dems went through the same issues when Bush assumed the presidency. Some of the expenditures may seem wrong to you. I don't blame you. But, I think if we create more green energy jobs, among others, there will be an amazing stimulus in the economy. I know you don't agree that Global Warming is a reality: still, can we agree that independence from foreign oil would greatly help America?

You know what really annoys me: $650 million for digital television converters. However, that occurred during Bush's watch and the Republican Senate in 2005.

But you know, I don't care who messed up. This program needs to be scrapped. It's ridiculous. The only profit I see from these silly machines is money for the telecommunications companies.

What I want to see is a reduction in NAFTA (GOP Congress and Clinton) and CAFTA. And I, too, believe trying to dig us out of debt will take a "long, long time," too.

At least mowing grass will create jobs.


Lee said...

I wish I could say you were right. I think someone would mow that lawn on the existing contract. :(

How I would handle the digital conversion. Have ad's run on Televison about the change. Then do the change. Have one station run a loop telling you to get a converter.

No money to subsidize anything.

If Green industry is such a big thing, then the Government should not have to subsidize it right?

James Cook said...

Er, over at Irregular Times Barack Obama IS being criticized. I write for them and used the website to organize a demonstration at his inauguration. We aren't vilifying dissent directed toward Barack Obama... we're participating in and even organizing it.

I agree that many partisan Democrats are acting like sheep. But not everybody on the left is a herd animal.

Lee said...

The Irregular Times was an example of a Progressive site that has long touted that Dissent is Patriotic. In fact they have a long history of Dissent.


I really do not see them defending the patriotism of Mr. Limbaugh for his wanting the more socialized programs of President Obama to not see fruition(read: Dissent).

My impression is this: "Dissent is good unless it is against someone I support or from someone I dislike"

BTW, I do appreciate you stopping by and posting.

Stella said...

Lee, there's a great saying by Voltaire: "I may not agree with what you have to say, but I will defend to my death your right to say it."

James, thank you so much for saying not everybody on the left is a sheep. I don't think everyone on the right is a sheep. We all want what's best for this country, but have different ideas about how to achieve that goal.

If Green industry is such a big thing, then the Government should not have to subsidize it right? I'm not sure. The financial industry is a big thing, and the government had to subsidize that.

Have one station run a loop telling you to get a converter. Yes, exactly. How much money has the government spent on those advertisements for the past two (?) years? Too bad they can't use that $650 million for the converters and give the money to green initiatives.

Lee said...

How about they don't spend $650 million. Start cutting bad programs. Clear the national debt. and have a balanced budget amendment?

You cannot spend more then you take in. With certain emergency provisions.

Stella said...

Yes, Lee. That's what I mean, to a point. Get rid of this silly digital converter nonsense. "You cannot spend more than you take in." What a novel concept!

I do feel that green initiatives is a good fiscal-building idea. The more energy we make (not ethanol), the more self-sufficient we'll be and the more jobs we create. Maybe we can spend money on educating doctors and other medical professionals for all the aging Baby Boomers.

Perhaps we can decrease product imports. I think we both want to see America self-sufficient, even if we have different ideas about how to accomplish that goal.

Thanks for your kindness and being so gracious abut my silly post today.

shoo said...

On the financial bailout, two points. First, the financial industry is crucial to our economy. The green industry is a very minor player at this point. Second point: we did not have to bail them out. Once we did bail them out, they immediately showed us why we should have let them fail by spending the money in all kinds of stupid ways.

The way capitalism is supposed to work is you simply let these companies fail. New ones will spring up to fill the void: hopefully new ones that are far better run.

One monopoly government does not have is incompetence. As companies grow very large, they tend to become just as incompetent as government. The difference is that these large companies are usually allowed to fail, whereas the government just says it needs more money.