Obama Administration Has No Clue.
Deficit commission to be formed by administration to recommend cuts two years from now. Wow there’s a political cover if I ever saw one. Are you telling me that our elected officials have thrown in the towel and are admitting they cannot do the job they were elected to do? You know make the hard decisions, like cut spending and manage the budget of this government. Are you telling me that the solution is to form a so called bipartisan committee, with no authority to implement changes? This is the only answer? Yes, I remember the Grace commission, yes a lot of changes were implemented and had a very good effect. Perhaps this is the answer, perhaps the government is so dysfunctional a committee is required, but will any changes come in time? Will the government implement them?
Have you read last years stimulus bill? This administration is touting how wonderful it was, it saved 2 million jobs. Recovery.gov shows that North Dakota and Washington got some jobs, yes the Federal employment rate is reaching 3 million. This bill was loaded with money for liberal agenda items that do nothing to create jobs or an economic environment for business to create jobs. I have posted several examples of this bills waste of tax dollars and you can read the bill for yourself if you doubt me.
I believe this President is creating political cover when he speaks of nuclear power and an $800 billion loan guarantee, how do you guarantee a loan when you are broke, it’s like co-signing for someone when your credit score is 400. It’s laughable. A nuclear power plant will never be built in my lifetime, just look a the lefts reaction to this announcement. Look at the regulations, look at the problem with storing the waste and look at the water resources required for cooling. Never going to happen, just a nice political statement saying, well I tried.
The deficit needs to be reduced, the $500 plus billion not spent in the stimulus could cut that in about half, the waste fraud and abuse in the medicare, medicaid and social security programs could further reduce that deficit, new social programs need to be put on hold and current programs need to be eliminated or cut. This all could be done by our elected officials this year and followed next year by additional reductions in spending. Tax increases only go to further allow our elected officials to waste our money. If a politician sees a tax dollar they will spend it on new programs, therefore if any tax increases are implemented they must go to the deficit along with cuts, across the board. The deficit is a serious problem as is the total federal budget, both must be reduced.
The administrations shift to “jobs” is a political move, the administrations is not showing any real movement to improve the economy as demonstrated by its continuing support of liberal agenda items, such as the current health care reform bill and a new stimulus bill. I say you cannot BS the American public any longer.
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The Common Man: I am just that, someone who spent 30 plus years working for the government as a mid-level manager and program manager. This forum allows me to have a voice and share my concerns. I have been a voting member of the silent majority my entire adult life, now however it seems voting is not enough and being silent is a bad idea. This forum is an attempt to move the conversation from the kitchen table, friends and families to people who would also like to voice opinions and Participate in a civil debate.
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"I’d gladly pay you Tuesday for a hamburger today." -Wimpy J. WellingtonIt’s action deferred to an uncertain future. =’[.]‘=
This comment was originally posted on Digg
Rod
I’m curious–on whose economic analysis do you base your comments about the stimulus package? Can you give me the names of the leading economists who support your conclusions? To me, you sound very ill-informed on this subject, passionate, but ill-informed.
Did you look at Moody’s Economy.com and review their forecast model for the stimulus bill? Did you see what categories of the stimulus bill provide the biggest bang for the buck? The table is on page 9 of the forecast (linked below)
“Every dollar of additional infrastructure spending means $1.57 in economic activity, according to Moody’s, and general aid to states carries a $1.41 “bang” for each federal buck.
Even more effective are increases for food stamps ($1.74) and unemployment checks ($1.61), because recipients quickly spend their benefits on goods and services.
By contrast, most temporary tax cuts cost more than the stimulus they provide, according to research by Moody’s. That is true of two tax breaks in the stimulus law that Congress, pressed by industry lobbyists, recently extended and sweetened — a tax credit for homebuyers (90 cents of stimulus for each dollar of tax subsidy) and extra deductions for businesses’ net operating losses (21 cents).
Economists said Republicans’ recent proposals to rescind unspent money would be a mistake.”
http://www.economy.com/mark-zandi/documents/Economic_Stimulus_House_Plan_012109.pdf
Bridgid, I don’t think I am ill-informed on the subject. I would say I just don’t believe the model. I know that borrowing and spending will not reduce debt. I think the borrow and spend plan has been tried before in many forms, not just government, it never works.
If one is to control ones budget one must reduce debt and control spending. I have always believe Bush made a hugh mistake with the bailout and I believe the current stimulus bill is more of a political movement towards government control and promotion of a liberal agenda than a stimulus bill. I have read the Recovery act and find billions of dollars targeted to said agenda items and will produce no jobs and very limited infrastructure spending as it relates to the size of the bill.
As for the tax cuts, well lets just say that the small targeted cuts do very little to stimulate job growth and nothing to reduce the growing deficit.
Rod
If you find Moody’s conservative economic model to be faulty, what economic model do you agree with? Did you agree with Reagan’s massive deficit spending to get the economy out of recession, even though it resulted in a tripling of the national debt? Did you support Bush II’s massive deficit spending to fund the wars in Iraq and Afghanistan? His legacy was a doubling of the national debt.
Despite many politicians and voters conveniently becoming born-again fiscal conservatives the moment Obama entered the White House, it is near impossible to find a single news story showing these same “angry” people throwing tea parties left and right while Republicans practiced unrestrained borrowing and spending and tax cutting under Reagan, Bush I and Bush II. Things that make me go “hmm.”
Forgot to attach the chart, which, despite being reproduced in the New York Times (gasp!) all the data is from Haver Analytics, Standard and Poor’s, and Bloomberg.
http://graphics8.nytimes.com/images/2009/01/23/business/0124-biz-websubCHARTS.gif
Bridgid I don’t think you understand, I know you read what I have been posting but you continue to try to tie me to previous administrations and their policies. The simple truth is I don’t like social programs, excessive spending or wasting tax dollars. I want a government that protects the American people from all enemies and unscrupulous business practices.
I want spending to be tied to a specific program and not the general fund to be used as fun money for our special interest congress. I believe it is counter intuitive to think one can borrow money at this level without consequents far beyond those we would have experienced with out the massive borrowing. Remember they are not spending “banked money” but borrowing it to spend. This is what you seem to be missing.
Try running your own budget in this manner and see what happens to you.