Posted by
Steve on Tuesday, September 13, 2011 12:21:41 PM
Last week, our Fearless Leader feted us to a talk about “Jobs”. In the talk, he told us that the bill had to be passed about 17 times. At that time, there was no bill. The bill has now been introduced and the details are coming out. First and foremost, this is not a “Jobs” bill. At least, it is not a “Jobs” bill for the United States. It is a “Jobs” bill for unions. The bill should be renamed Union Jobs Bill. Then we would really know what is in the bill.
The bill is $447 Billion. None of the money goes to help the people that create jobs in this country. All of it goes to government union contracts. That will boost employment for the government sector for a few months, but not the overall economy at all, ever. The stock market took one look at the “Jobs“ bill and went down about 300 points. They are the people that actually create jobs, so their interpretation is pretty important. If the people buying and selling on the stock market think it is a bad idea, it is a bad idea.
Liberal economists, who are always wrong when it comes to the economy, are saying that this is a great bill that will increase employment in the country. Given their track record, I would tend to bet against their analysis, rather than with it. If I bet against liberal economists, I would be money ahead almost every time. That is, if I had the money to invest. Sadly, the great Obama economy has sucked away most of my investing capacity as it has everyone else’s as well.
Conservative economists like Thomas Sowell have looked at this bill and say that it does nothing for the economy. It will spend $447 Billion and have nothing to show for it when you are done. This is really a redo of all the previous stimulus bills. They all ended in massive failure. This bill is doomed for failure, if it should ever see the light of day.
In the out years (those after the November 2012 elections) Obama proposes raising taxes on the “rich”. The rich are those that have a job and actually make money. Since the “rich” are evil, they have not been paying their “fair share” of the tax burden. The top 10% pays about 75% of the taxes right now. How much is their “fair share”? Over half of the people in the country do not pay any taxes at all. That is unsustainable. If you do not have a “stake” in the country by paying some taxes, you have no interest in saving the country. You will then vote to get more “goodies” from the Treasury. That cannot last. When it comes crashing down, everyone will be blamed except those who actually did the damage. The people who did the damage are the Democrat politicians, and the Republican politicians who went along, who voted to remove people from the tax rolls. Democrats did it to win votes. Republicans did it to appear “fair”. Both are wrong.
The stimulus bill that cannot be called a stimulus bill is a disaster in the making. If Congress is stupid enough to pass the bill, we deserve whatever evil comes from it. Congress knows that the bill will do no good. Democrats are for the bill because it pays off their main contributors, the unions. Republicans are generally against the bill because of politics, not what is right and wrong. Ethics is seemingly a thing of the past in politicians.
The best thing that could happen to this bill is for it to come crashing to earth. It deserves to fail. It spends too much money and plans to reap so little. The best plan would be to reduce government and get out of the way. That would bring the economy roaring back. But, it will never happen with a Democrat in the White House and a Democrat controlled Senate.