How much confidence do you have in the $819 billion stimulus package?
I’ll be honest, I have zero. I think it will fail because you can’t spend your way out of a recession.
In a nutshell, we are depending on the same people who got us into this mess to get us out. It won’t work.
You know what could work? A program dedicated to rebuilding the U.S. infrastructure.
How much difference would it make if they spent that cash on roads, bridges, sewage systems, etc.? Off the top of my head, the following would happen:
• Hundreds of thousands of jobs would be created across the country.
• Demands for steel and other building materials would skyrocket.
• Both urban and rural economies across the country would receive a boost.
The ripple effect of such a massive project would be huge as well. If you divide the $819 billion on a per capita basis, Texas would receive around $62 billion. I would much rather see OUR hard-earned money be spent in such a manner.
I mentioned rural economies. How about using a large portion of the package for rural rejuvenation? Wouldn’t that be wonderful.
The fact is a bunch of non-fiscal greedy little pigs think they can put a fire out by smothering it with cash. They think we are morons and can’t think for ourselves so they are going to make everything better.
Since the first bailout package passed in the fall, look at the number of jobs lost. Look at how the markets have reacted. It has not worked and the new package won’t either.
Congress will have you believe corporate greed is to blame for this mess. I have news for you, 99 percent of all corporations are small and don’t have the chance to be greedy. Most CEOs are trying to keep current employee numbers at the same level because they know how important jobs are to workers. Massive bonus packages for CEOs of failing corporations are given out, but I bet the percentage of companies behaving in such a manner is less than one percent.
Over $1.5 trillion in the two bailout packages combined and we’re just getting started. That’s $5,000 for every man, woman and child in the U.S. How do you want your five grand invested?
Copyright Christopher Blackburn 2008