7ony (7ony) wrote,


I recommend the website of President Obama's administration. It's a good way to learn what he is doing and what he plans to do.

From the various newscasts I've listened to, it appears that the Republicans in Congress are stubbornly resisting the president's proposal for a stimulus package.

The Republicans say it's too loaded with state and local pork barrel projects and not enough tax cuts for the wealthy. They say that state and local projects will do nothing to help the economy and that the best way to stimulate the economy is to give rich folks extra money and when they spend the money, it will somehow trickle down to the ordinary folk.

The Democrats seem be in favor of giving handouts to the ordinary folk and giving bailouts to the state and local governments in hopes it will create jobs. You have to ask why these states and cities are so poorly managed they need a bailout. Maybe it's time for them to burn their credit cards and learn to live on the money they have.

I have mixed feelings about the President's stimulus package. First, I disagree with the size and scope of the stimulus package. The idea of borrowing that much money from our grandchildren to pay for our excesses and mistakes rankles me. If it were up to me, I'd say suck it up, we got into this mess, now let us work our way out of it like responsible adults without the excessive borrowing.

The last administration tried throwing money at the problem. Look at the good that did.

If borrowed money must be injected into the economic system, it should be done with care and targeted to specific areas. Areas that will improve the health and wealth of our grandchildren. This money should only take the form of pay for specific national projects and tax credits for industries and individuals creating new jobs that target improving the environment and energy independence. Tax credits are the best way to do a trickle down economy.

I think Obama has some good projects in his plan and he likes the idea of tax credits, but it seems in order to accomplish his goals, he  will have to bribe the Democrats with pork barrel projects and bribe the Republicans with tax cuts for the wealthy. What a waste of money.


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