Stimulus Package: The Hand You Want Out Is The One Urging Caution And Care
A crisis is a terrible thing to waste. The House of Representatives has wasted no time in passing a stimulus bill that as presently constructed, is a crisis in itself. It fails to understand that nurturing a nation means not conspiring against its nature. It is sort of like popping some pads and helmets on happy Munchkins and expecting them to maul their way to the Super Bowl.
Man’s nature is to produce, innovate and create, not haplessly hope for handouts. Although we are creatures concocted of a hodge-podge of lofty and low traits, we thrive under a capitalistic economic system in a representative republic. This stimulus bill smacks too much of a “Nanny State”. Wet nursing citizens past puberty turns out poorly.
Mad with “Roosevelt Ravitis”, lawmakers are ignoring the nature of proven economic lessons. Government’s nature is to nourish a safe environment for commerce, not conduct it. Capitalism and Democracy tap man’s drive and help him thrive. Socialism does neither. The more we label resources as rights, the less we work for them. Deficit spending, alone, does not work and the money we are talking about is ours; governments do not own money. Remember, he who has the coin has control.
Our founders brilliantly engineered a balanced government. Yet now we see political parties aligning in lock step in the face of a problem requiring compromise and complex solutions. Be afraid.
Times are tough. Consumer spending is two-thirds of U.S. economic activity and it is falling with house prices, securities and demand for durable goods as unemployment rises. Business investment dove and the economies’ shrinking is the fastest in 27 years.
However, this is not the worst economic time this nation has endured by length, intensity or tools available to recover. Elected officials, many of whom know less than diddly about history or economics, are catastophizing like misguided Messiahs with agendas suspect of vote pandering and social reengineering.
Other than a terrorist with a suitcase nuclear weapon in hot pursuit of heaven, our biggest enemy is the one our mommas warned us about; ourselves. We have created massive deficits in real dollars, in trade, in savings and in leadership.
Nations go bankrupt when they cannot pay the interest on loans. The federal debt is over $10.6 trillion. Adding unfunded promises brings it to $53 trillion. Previously, Americans financed the debt. Now it is largely Japan, oil exporters, China and other nations. That is politically unwise.
American’s savings rates are deficient. Many, never having seen a rainy day, don’t have an umbrella. Savings stimulate investment, productivity, inventions and economies. The live for today, easy credit consumer must depart.
This bill is a drug of the worst kind; addicting, seductive and slow in action and release. The quickest way to fix our economy is to let Americans keep the money they are earning and invest it again with measures that give incentives for investors and entrepreneurs to invest in new business and job creation.
Trade deficits are often a battle ground for adolescent leaders to act out. The Smoot-Hawley Tariff Act of 1930 was exemplary. Protectionism has been called an economic cocaine high; fast, addicting and fatal. Mr. Obama, do not repeat that error.
Monetary tools of manipulating national debt, credit and interest rates are installed and our balance sheet is flush. Good. Perhaps it is time to resurrect the flat tax- fair tax concept or a balanced budget amendment.
We cannot afford the worst deficit, a deficit in leadership. Spending poorly today has a cost beyond the interest due. Our failing to lead may nourish disinterest in the American dream for generations to come, conspiring against their nature to produce.
Pay attention, get engaged, and call your Senator. The hand you want out is one urging caution and care.
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