Wednesday, February 4, 2009

Pass the Package - It's Good!

I like Obama's new stimulus package and I want it to pass in the senate.

Unlike wall street and the automotive industry's sketchy bailouts, it actually puts money in things that will stimulate the economy now, and which are also solid investments for the future; public schools, energy conservation, health insurance for poor people, and essential infrastructure like highway improvements and sewage treatment. They're all common-sense things that we need anyway and which will benefit everyone; not just rich schmucks.

By contrast, the republicans' alternative plan is is more of their usual crap; trillions of dollars in tax breaks for corporations and wealthy individuals, and little support for public works, teachers, cops, etc. The same Bush strategies that have been screwing the middle class for the last eight years.

Unfortunately, the republicans are successfully exploiting the public's bad feeling about the last two bailouts and trumping up the few specks of pork in Obama's plan in a shameless attempt to shoot it down and replace it with their much-worse substitute. Apparently 100 times more people have called congress to oppose Obama's stimulus plan than to support it. Yikes! If that alarms you as much as it does me, you should call up your senator and express your support for the Obama plan, or at least the aspects of the Obama plan that you agree with. There's a number that makes it easy.


Just ask to be connected with a senator from your state, then tell 'em what you think. I already told Florida's Senator Mel Martinez. He's one of the bad guys, so he definitely deserves an earfull.


Outdrsmn said...

These politicians better wake up. The economy just dosen't work without the middle "working" class. Any stimulus should be about getting that portion of the population healthy and the rest will take care of itself.

If they had spent that first 700 billion there, folks could have paid down mortgages, (fixing that problem) retired, (creating jobs) mantained consumer spending, (Buy more homes, cars, and stuff, no job loss or financial suffering by business)paid for medical expenses etc... And better than half would have been recouped through taxation. Sounds like a win win everywhere. The only real drawback I can see would have been infaltion and that could have been tackled by placing a govt mandated cap on prices.

Well maybe it's not that simple but it should be.

James Douglass said...

Yeah, I'm no economist, but the big wallstreet bailout seemed like an extravagant favor to past political donors, with dubious economic benefits.

The current Obama package seems to do more stuff that will directly benefit the middle class. Although the longer it bounces around the senate, the more corrupted its getting.

Frank said...

Hi James Like you have already said you are no economist. There is no Obama package this is the Queen bee spending package. Read Thomas Sowell
Basic Economics.Why aren't you guys blaming Bush for the last package and fighting this one? This bill will not help the home owner. Some people should rent.This will further misallocated resources.

James Douglass said...

Hi Frank- I appreciate your comments because they make me work a little harder to think through and justify / reconsider my views. The Thomas Sowell book sounds interesting - I'll look for it. I probably wouldn't agree on all of his libertarian views, but I do think the free market is a good way to get some things done. It just runs into trouble when the folks who get ahead in the game start making their own rules, and end up screwing everyone else, the environment, democracy, etc etc.

The ill-conceived wall stree bailout wasn't just Bush's fault. The democrats were pushing it, too, so I blame them, as well. :) That 700 bn hasn't all been spent yet, though, and there's still some chance that we can make sure it is spent less wastefully. There's even a petition to retroactively take away the bailout $$ that went to executive bonuses.

I agree that some people should rent. Or buy smaller houses. That would leave them more $$ to stimulate the economy by buying windsurfing gear!

Johnny Douglass said...

I understand that the public works projects (in the current stimulus package) that target the middle and low income community are called pork barrel spending. What do you call it when you do a Wall Street bail out and the top management has lavish "conferences" and multi-million dollar bonuses? Can we call that caviar barrel spending?

Frank said...

Well James I am no intellectual match for you PSD's and I know my opinions are right of yours on politics. And I like to put my two cents worth in. We both love windsurfing and wish for more participants. I am married but my wive is scared of the water so she will not be learning(I could even teach her to drive standard after twenty years of marriage). I read on Robby Naish website that he thought women helped other women to get into the sport. That men were to competive and that hurt the learning process. I like your dad, he is funny