Wow, I've got to say that I'm almost suprised that no one's appeared to say anything about the so-called "stimulus package" that passed the House the other day. Almost immediately upon taking office, President Obama has been pushing a huge spending bill- the largest in the nation's history, around $1.2 trillion- over half of 2008's federal spending budget- with interest.
In support of this bill, Pres. Obama has repeatedly stated that (paraphrasing here) "we have to do something now or the country is doomed." That very claim is in conflict with the bill that the Democrats are trying to ram through the Senate. In the current bill, at least fifty percent (a conservative estimate) of the spending won't kick in until 2010 or 2012. So much for immediate action being necessary. As if the sheer price tag weren't high enough, the jobs that the package would supposedly generate would come at a cost of 400,000 taxpayer dollars per job. Any gains will just be eaten up by increased taxes.
Spending this kind of money- on a whim and with little factual backing- impacts not only this generation, but also our children, grandchildren, and great-grandchildren. There's no way that the money could be payed off within 1,2,10, or even 20 years, there's just not enough money in the federal budget, especially with the way Congress has been spending it.
Even with all this, there will still be those who will say "But we're in a depression and we need to do something now!" There are two problems with this argument. First, we are not in a depression. I invite everyone who comments on this post to tell us how much their income has dropped (or risen) in the last two years and why. The only reason that we believe that we are in a depression is because the media tells us that we are. Second, as I have said, most of the money won't kick in for years, and a large percentage of the total money to be spent is on pork anyways. Take the plan for a Comparitive Effectiveness Committee; basically it would be a board that would say what medical treatments are most effective and could tell insurance companies that they can't cover any but the "best" choices. Very little of the money is actually designated for immediate stimulus use.
The "stimulus package" is just a ploy to increase the power of those who advocate and convince the American public that Obama and the Democrats care about them.
Sources: http://www.heritage.org/research/features/budgetchartbook/fed-rev-spend-..., http://www.heritage.org/Research/Economy/hl1108.cfm
I hate to have to say this, but Obama want to get re-elected. He ran on a platform that said he would fix the economy. If he fixes the problem with the economy then what would we need him for. Republicans ran into this problem in the last elections. The republicans came on a platform that said we can keep you safe from terrorist well since they did such a good job keeping us safe that terrorist are not a big problem in peoples minds. So they lost a lot of support. Obama may feel the same way. If he fixes the economy then he may not get re-elected because will not be a main concern of most Americans.
Now this is a double edge sword if he does not fix the economy or show signs that it is on the mend then people will turn against him. I find that it is interesting that the bill has a lot of stimulus that will kick in about the time he start to run for re-election. Also Obama may blame the Republicans for their lack of support for the reason why the economy has not fixed itself. Especially if the republicans take more of congress in two years. It is hard to understand politics, but if you take a step back and see how someone got elected, what he said then and what he did then you can see and understand what he will try to do to get re-elected. I know that we are just out of the election trail but that is when they start up their re-election plan.
"Something given has no value"~Robert Heinlein
"Having been poor is no shame, but being ashamed of it, is." Benjamin Franklin, Poor Richards Almanack, 1749
The 'stimulus' Bill is a bit like a Democrat wish list. Are you surprised?
Once you accept the dubious assumption that the government can spend its way out of a recession then naturally it is a much smaller step to think that spending on what ever you want is just as good as any other spending.
Prepare for inflation.
"Believe those who are seeking the truth; doubt those who find it."
--Andre Gide