Friday, January 25, 2008

Robbing Peter's kids to pay Peter

This is an economic stimulus plan that is flat out stupid!

America has spent itself into a deep, dark hole. The biggest part of that is the devt-financed war that has had no economic return (like cheaper oil) for America, only costs (soldiers, equipment, incresaed oil costs, loss of security, etc). And the world is getting tired of it, hence the falling dollar.

So what do we do? LETS BORROW MORE!

This is exactly like taking a cash advance on your credit card. Some day you have to pay it back. WITH INTEREST. And in the meantime, you've ruined your credit rating even more, so your borrowing costs go up and up and up.

Then your economy collapes.

What could we do that makes sense? Well, if you are going to steal from you grand kids, you might want to consider investing the money into a crumbing infrastructure (a collapsing bridge comming to a town near you soon!). Its cheaper to build it now and it will last until they get stuck with the bill. And it generates jobs and produces something of value. You could also change our policies to improve long term growth and distribute wealth across the economy. When you give the rich more money than they can spend, the invest it where it makes the best return. That isn't America right now. Welcome to the reality of a global economy.

Another example of both parties trying to out stupid each other.

What am I doing with my $1500? Paying off bills. I need a new TV and a newer car, but the $14,000 I pay for my kids day care makes that unlikely.