January 29, 2009
The massive spending bill being debated this week on Capitol Hill is not a stimulus bill. The $819 billion pork laden bill passed the House of Representatives yesterday and is now going to the Senate. Despite the fact the Barack Obama went and visited House Republicans in an effort to get them on board, the only thing bi-partisan about the bill was that both Democrats and Republicans voted agaisnt it.
Eleven blue dog Democrats and each and every Republican in the House voted against consigning future generations to pay for the subsidization of liberal special interest groups like ACORN and pet projects like global warming research.
Perhaps some of the items in the bill are worthy, but apparently not many can be accurately argued to be stimulative to the economy. So what we have then is a massive Democratic pet project spending bill not too convincingly masquerading as an emergency economic stimulus bill. Thank god no Republican voted for this thing (John McCain hasn't voted yet). The Republicans might actually be becoming a viable party again that stands for something.
Sadly, it is the Republican alternative proposal (which was voted down) that stood a chance of actually stimulating the economy. Cutting taxes allows the private sector a better chance to begin to dig our way out of the recession rather than relying on government make-work projects and theoretical R & D type projects to somehow lift us out of the doldrums. By cutting the corporate tax businesses will be able to plow some more money back into their own business and eventually begin hiring rather than firing. And cutting the income tax understands that the people know better how to spend their own money than the state does.
Spending 2.4 billion dollars on "carbon-capture demonstration projects" won't do much to stimulate the economy. Cutting certain taxes will have an immediate effect.
If Barack Obama is truly a transformative and transformational leader, he will listen to the Republicans and in the 'stimulus' bill include some more serious tax cuts and dramatically less Democratic pie-in-the-sky pet projects.
It's that simple. Barack Obama's legacy and the future of this country are at stake.