Tax and Spend!
That pretty much spells it out. After a year of insane government spending by the Bush Administration we now are on track for even more insanity. Unless you’ve been on a deserted island for the past two months you probably know that our new President Barack Obama has decided its best for our country to spend some more money courtesy of us tax payers.
$825 Billion is the latest figure and it doesn’t even include the remaining $350 Billion that was voted to the mega banks by congress last October. Obamas plan is to spend a large portion of the $825 Billion on jobs to rebuild and refurbish infrastructure according to Fox News.com.
While this may sound like a good way to create jobs in a floundering economy I tend to agree with House Republican leader John Boehner. Instead of more government spending, some tax cuts would ease the public consumers financial woes and allow entrepreneurs, small businesses, and the self employed to retain more of their earnings and encourage investing and create private sector jobs.
One thing that President Bush proved beyond doubt was that when it comes to taxes, less is more. His tax cuts, which the Democrat controlled Senate decided to let expire, actually increased tax revenue. Large Corporations paid less taxes and invested the savings in their own endeavors which created more jobs and corporate investment. Granted more transparency was needed to prevent corruption in the higher up positions of many major corporations like Enron and the more recent financial sector messes, but one has to admit the economy for the last three or four years leading up to our current woes were booming ones. The Dow Jones Industrial Average broke the 15,000 mark and the national unemployment average was at record lows not seen in 40 years.
Why is it so important to spend billions of dollars to create government jobs now when President Bill Clinton, the last Democrat in the White House, found the need to eliminated so many of them by reducing our military to a skeletal form?
I definitely think money should be spent to create jobs. I just dont trust government officials with so much of our money, somehow the money always gets spent on things other than what they were intended for. A maneuver Barack Obama and the newly named Secretary of State Hillary Clinton are masters at. They finished on the top of the heap in pork barrel spending.
Hang on to your hats folks, and your wallets. The Democrats are going to try and spend their way out of this mess.
What the answers are to it all I don’t know.
If any one has any new and unique ideas to solve our financial crisis I’m all ears.
Its a Cracked World isn’t it
Why give them the money? It sounds like a bad Idea to me. They want to spend some of it on birth control for gods sake!
I agree Jake, but the people that wrote the bill also vote for the bill. The American people voted these people into office and now we have to live with them at least for another term.
I hope every one remembers this when the time to vote comes again.