Economic Credulus
Obama rejects a second stimulus. Coming from the Hero of Guantanamo and Savior of America’s Image Abroad, I believe that. via the Boston Herald:
WASHINGTON — President Barack Obama on Saturday dismissed the idea the nation might need a second stimulus to jolt the economy out of recession and urged Americans to be patient with his economic recovery plan.
Faced with rising unemployment numbers and criticism from Republicans who have already labeled the $787 billion stimulus a failure, Obama used his weekly radio and Internet address to remind voters that reversing job losses takes time.
He criticized Republicans for opposing the stimulus but offering few alternatives to the worst recession since the Great Depression. And he rejected talk of a second stimulus, an idea that has been discussed by Democrats and even famed investor Warren Buffett.
“We must let it work the way it’s supposed to, with the understanding that in any recession, unemployment tends to recover more slowly than other measures of economic activity,” Obama, who is visiting Ghana on Saturday, said in his recorded message.
Sure. If you believe that, I have a shovel-ready bridge project that needs funding. Here’s the White House blog w/ vid, if you like your horseshit straight from the horse’s mouth. And hey, what’s he slamming the Repubs for? Some nerve.* And what’s with the Obamist Press letting him get away with it?
In his speech, Obama twice referred to “cleaning up the wreckage” of a recession that began on President George W. Bush’s watch. But with Obama’s poll numbers slipping on economic issues, Republicans want to lay the economy at the president’s feet.
You know, I’m pretty sure in earlier an time, the Associated Bush-bash would have stuck in a phrase along the lines of ”deeply unpopular economic policies” in the second or third graph, rather than tucking that vague polling data reference way down the bottom, and then just using it to suggest cynical Republican political manuevering.
Never mind. I know Nobel laureate Paul Krugman is demanding more national debt. I have a different idea. Forget a second stimulus. If they haven’t managed to even start paying out the first one. How about a Re-Thinkulus.
Since it turns out that subsidizing government hacks instead of cutting them, and pouring money into agenda-pushing wishful thinking projects isn’t doing it, it’s a great opportunity to start doing what they should have done in the first place. Aggressively cut the size of government, starting with a whole lot of stimulus and FY2010 spending plus that massive “health-care” government expansion project. Then deliver the tax cuts that will encourage people to spend their money in ways that help the economy.
The $800 stimulus salted into my weekly paycheck is great. I’m using it to buy groceries. Thanks, Congress! But drastic times call for measures that actually accomplish something.
Tax deductions for home renovations. Forget that green windows thing. I need a roof. People with money are more likely to buy a $50,000 kitchen if they can knock $5,000 off the price, or a $5,000 driveway if they can knock $500 off. You want to do something for the environment? Home renovations immediately put your local carpenters, plumbers, electricians … heck, even your local illegal aliens … back to work, and boosts sales at your local lumber, plumbing and electrical supply stores. How about underwriting those $20,000 septic systems we have to buy all over again every time we sell a house in my state? Shovel-ready, big employer, lots of heavy equipment and concrete. Sales and income taxes help the states, which might stifle some of their whining … though I doubt it … and helps pay back the feds.
Speaking of which, no federal money to state governments that aren’t aggressively cutting back. Cut two dollars, get one. Economic treason charges for all state governors and legislators that are trying to save their personal nepotism projects by raising taxes and fees in the midst of an economic crisis. In fact, let’s get on a war footing. Since raising taxes at a time like this is like cowardice in the face of the enemy, and should be dealt with in drumhead trials. Shoot a few, the rest will notice.
Tax deductions for buying American-made cars. No, not just a deduction on the state sales tax that just got hiked to subsidize laybout nepotist hacks in my state. I mean actual money. At $25 billion, that works out to about … let’s see … a lot of new cars to American tax-paying drivers, who might as well get something for their money. I’d suggest this apply only to companies that have taken serious action to deal with gross labor and management excesses. Seeing as we now own GM, theoretically it should be easier for us to make that happen. Pro-rate it based on what percentage of each company’s final product is actually made in America. I’d suggest shooting a few overpaid underperforming chief executives, too, as long as we’re going into wartime crisis mode. You know what they say. Nothing focuses the mind like an execution.
Divert all other allocated stimulus funds to actual shovel-ready projects. Stuff that needs to be built or fixed. Anything that needs to be researched or studied or is based on developing a new theoretical economy, as opposed to boosting the one that actually exists, sorry.
Boost military spending, recruiting and pay. It’s clear none of the threats to the United States have evaporated, even though everyone likes us better. The military is stressed, in need of a refit. This is also a great alternative to boosting unemployment payments. Make the first line on every unemployment assistance form: “If you are between the ages of 18 and 42, have you attempted to enlist? If you checked ‘no,’ please file submit this form in the circular file nxt to the counter.”
Oh yeah, almost forgot. Eliminate the capital gains tax. Eliminate all the red tape, that months/years-long delay in getting the money where it can do the most good, in those cases when it was actually headed anywhere near there. Encourage people who have money to invest it in places they think will make money. That will be where the jobs are.
Those are just a few ideas. Your suggestions in comments. Do I know what I’m talking about? No. As I’ve said before, I operate on the Neanderthal level when it comes to this kind of thing. I just don’t think that, when the cliff edge is crumbling behind us, and the T rex is snapping in front of us, this is time for bright ideas like, “Hey, if we fund ‘green’ R&D, we can drive away in cars that aren’t dependent on the oil that T rex will someday be.” That and, “Hey T rex! Quick, look, endangered mouse on that volcano over there!”
And since it’s become increasingly obvious that Nobel laureates, the White House and the majority in the United States Congress don’t know what they are talking about either, I don’t see how we can go wrong with a basic program that puts the money where it is needed now, instead of shoveling it where it needs to be cut or toward the creation of some lefty utopia that is at best still years away from fruition, and at worst only months away from engineering chaos and economic ruin.
This thing will need a name. Rules of American political jargon, much like “gate” for scandals, dictate a -ulus” suffix for megalithic national economic bailouts. ”Porkulus” is already taken and was part of the problem, not the solution, anyway.
I understand that “Re-thinkulus” would require the Dems to admit they were wrong. So maybe something like “Cutulus.” That’s pretty unambiguous. Or, because to sell it to Dems you have to make them think it’s something they can sink their teeth into, “Chopulus.” Or, if you liked the caveman analogy, “Smashulus.” Because to save this economic stimulus, we have to destroy it.
* “Do nothing” GOP plan? HotAir, with vid, begs to differ.
Well, Surber’s reassured that at least Obama thinks he’s doing a good job.
Related, not at all different: Gateway with the latest “Hands Off Our Health Care” rally.
Topics: Obama, hacks, money, pols
Posted by Jules Crittenden at 11:11 am on Saturday, July 11, 2009
6 Responses to “Economic Credulus”
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July 11th, 2009 at 12:50 pm
The Democrats have had a majority in Congress since 2006. Shouldn’t they be taking some of the blame for this horrible mess by now, instead of trying to pin it on Bush?
July 11th, 2009 at 12:51 pm
Woops, my bad. 2008.
July 12th, 2009 at 12:42 am
“Do I know what I’m talking about? No.”
Do you know more than almost any Representative sitting around Washington passing laws? You betcha.
July 12th, 2009 at 9:20 am
Time to change the narrative.
“I said 2 years and by the way Bush sucks.”
http://www.jourtegrity.blogspot.com
July 12th, 2009 at 9:24 am
Rebecca,
You were closer than you thought. They took over the majority in both houses in the 2006 election and took over in January of ‘07.
Barney Frank and Chris Dodd have controlled the Banking and Financial Services Commitees for over 2 years now. Don’t hear much about that though, huh?
July 12th, 2009 at 12:50 pm
Both Bush and McCain were pushing for reforms that could have lessened the impact of the housing collapse and finance crisis, years before the crash finally came. That is a fact.
The same people who are in charge of Congress repeatedly blocked those reforms. That is a fact.
Bush was often criticized for deficit spending. Obama’s budget calls for DOUBLE the deficit spending of Bush’s term through 2016.* That is a fact.
The people currently in charge of our government have turned what could have been a slightly deeper recession than usual into a debacle. That’s not a fact, it’s an opinion - but it’s an opinion set on a very solid foundation of facts.
* “Double” being somewhat generous to Obama, because it sets aside this year’s huge deficit because it was “shared” between the presidents