Welcome back readers after a weeks break. Somethings came up last week not allowing me to write more on The Crucible, so I apologize.
Back to business however, and boy is the good ole DC cooking up something for us. Now its kinda like crazy grandma’s cooking, never know how its gonna be until we get a taste of it.
With a recent passing in the House of Representatives, Democrats passed the recovery package without a single republican house vote. Imagine the House during this vote, Republicans and Democrats split like the red sea as Mr. Obama slams the staff of economic recovery into the house. So much for his idea of bringing the two sides together and uniting the bi-partisanship into one. Some democrats even sided with the republicans on this one.
So what is this whole thing about anyway? Well, the stimulus plan that is trying to be put into effect by the great orator Mr. Obama, totals up to a record breaking amount of 787 billion dollar stimulus package. Like lightening sent down from Zeus in the heavens, this stimulus plan is aimed to zap the US economy on the right track. Thus, easing the grip on consumer’s wallets to stimulate spending and investing.
However, phat cash in our pockets isn’t the only target in the sights of this bill. Mr. Obama is reaching out to all big and small. It is a combination of government spending as well as tax cuts for both personal and business conditions. According to the Wall Street Journal, this stimulus effort is estimated to preserve 3.5 million jobs as well as give incentives for automotive purchases as well as first time home purchases. It would also give retirees a one time 250 dollar payout.
However, is all of this spending fiscally responsible? Many republicans stand behind their no vote due to the fact that they deem this irresponsible. Desperate times do call for desperate measures, however, does this action seem to be the correct choice in your opinion. Should we be shoveling enormous amounts of money into the economy faster than engineers shoveling coal into the boilers of the Titanic? Especially money that we do not have.
As our country is in a massive amount of debt, does the higher authority of this great country seem to be making the correct decision? Maybe their vision is blinded, seeing as its not their generation that will be effected by this creation of record breaking debt. Since the debt is held externally by foreigners through loans and such, it will have to be paid back with interest. Does having no plan to pay this back sound woeful to you?
You may say it doesn’t relate to you, however, my friend you are going to be paying it back. Along with your kids, our generation will be responsible for the repayment of fiscal irresponsibility. Is it our duty to be placed with a burden so heavy its paralleled to the punishment of the Greek god Atlas holding the sky on his shoulders.