This “stimulus” bill is just another appropriations bill loaded with pork – special interests. The short time to examine and make this bill better, smaller, more meaningful – or to NOT pass it – demonstrates its faults. ‘Pass it before people get second thoughts.’
It will burden the future, damage our dollar and for what? It is a recession. They have happened before and will again. The housing (CRA, etc) balloon needed to pop; the stock market was not based on real value and needed to fall. This adjustment is economically predictable.
Extending more credit to folks who can’t pay it back will extend this troublesome period. Be careful not to artificially prop up what should by economic logic, fall. Tax cuts will likely stimulate more economic action, quicker than anything.
NO on Stimulus Package!
The current financial situation began in Congress and in bank board rooms where decisions were made to offer loans to high risk borrowers. Consequences are necessary to maintain a real economy, not some fairytale of equality and fairness without risk. Consequences to poor financial decisions are bankruptcies, sell outs and losses. The market has been bloated for several years, in part due to a false economic boom due to unsustainably low interest rates and widespread loans on property assumed to increase in value indefinitely.
Once again the government is attempting to ‘stimulate’ the economy by taking away from some and giving to others. This will cost today, tomorrow and the next. It will saddle our children and likely theirs as well with DEBT. This will DEVALUE our dollar. Interest rates can go no lower. We cannot give people ‘The American Dream’ it is earned every day. Everyone cannot own a home, this is reality. The Community Reinvestment Act and many mistakes since helped to fuel the insanity that was the housing market. Government played a role in getting us right where we are. Jihad did not help either.
This very partisan bail out is using frivolous (arts), dubious (abortion) and meaningless, un-measureable expenditures (government employees, libraries, landscaping?!) to stimulate – what? Stop obligating MY money. Health Care for all the government way doesn’t work. Give ME a deduction for ME to find MY OWN health care. Health Savings Accounts (HSAs) work and it doesn’t take GOVERNMENT to implement them.
I am a PROUD AMERICAN.
I DO NOT WANT SOCIALISM.
GOVERNMENT is NOT the ANSWER.
Again, I, a private and responsible taxpayer, do not want to fund a bail out of individuals and institutions that made such horrendous decisions. In no way should we privatize profits while socializing risk. Fannie Mae and Freddie Mac were run without regard to their fiduciary responsibility and likely fraudulently. If Congress wants to avoid single digit approval – don’t gloss over the Congressional complicity in these failures.
Set good rules, let the market balance itself. Government does not belong in the markets.
Do not fleece America.
Note: Just a few letters to my Senators Since October 2008 re Financial Bailouts and Stimuli Packages.