A couple of nights ago, The History Channel had an FDR special. It was very interesting because FDR was a very consequential president. It remind us once again that World War II, not The New Deal, actually ended The Great Depression.
I'm not suggesting that Pres. Obama should start a war, although he may not have a choice if Israel and Iran go at each other.
What we are suggesting is that Pres. Obama should give us a "growth" package rather than just a lot of pork.
Obama's Jobless "Jolt" by Donald Lambro won't make Pres. BO very happy:
"But according to the nonpartisan CBO, which crunches budget numbers for Congress, only a small fraction of the proposed $274 billion in infrastructure spending to jump-start the economy will be spent by the end of this fiscal year and the rest won't be disbursed until 2010 or later."
There is more:
"Among CBO's findings:
-- Only about $26 billion, or 9 percent of the infrastructure stimulus, will be spent by Sept. 30, the end of fiscal 2009.
-- Less than half of the $30 billion in highway-construction money will be circulated over the next four years.
-- Incredibly, CBO says only about $4 billion in highway-construction funds will get into the economy by September 2010.
-- Obama talks about creating thousands of "green" jobs by pumping billions into biofuel, solar, wind and other technology.
But most of those jobs are not going to be seen for many years.
Only about one in seven dollars of the stimulus plan's $18.5 billion investment in renewable-energy resources and energy-efficiency programs will be spent by 2010, according to the CBO."
Like everything Obama, the stimulus bill is just "feel good hope and change".
Of course, we shouldn't look to government to create jobs anyway. We should let the private sector do that.
So let's scrap the stimulus package and go back to square one.
We can start by cutting the corporate tax rates.
Want to stimulate the US economy?
Cut taxes for the rich! They are the ones who invest and create jobs!
"The bill marked up Wednesday in the Appropriations Committee is a muddled mixture of short-term stimulus haste and long-term spending commitments.
It is an unholy marriage that manages to combine the worst of each approach — rushed short-term planning with expensive long-term fiscal impact."
