Obama's New Package Tries to 'Top Kill' the Economy ....
Barack Obama really frustrates us sometimes.. There are times when he speaks that we actually think that he's seen the light - and then later on, he reverts back to his usual ways. It helps us understand why he won the election in 2008. Where some of us hear this and think he MIGHT change, others hear it and buy it hook line and sinker...
The latest example of where he's giving us 'Hope and Change'? This week, Obama unveiled an economic recovery package that gives small business owners various tax breaks for a host of loopholes. While we'd rather see an across the board tax rate cut, or serious breaks for adding employees (aka, incentive to hire NOW), at least it's something. The particular statement that Obama made that we liked was his admission that 'the government cannot create jobs'.... HALLELUJAH !!!! Just like the drunks, the first step is to admit that you have a problem. Unfortunately, Obama's package is only $20 billion - and it still has to pass the House and Senate, where it will be wrapped like a bacon-covered scallop when it's done. Yes, that was a Pork reference...
Is this Obama's 'A-HA' Moment? Boy, we sure hope so, but we have our doubts..... You see, repairing the economy is a lot like fixing the BP Oil Spill... BP, the Interior Dept and the US Coast Guard can come in with as many vacuums and mops as they want, but until the actually STOP THE LEAK, they will never catch up. The Economic Stimulus of last year essentially did the same thing. Instead of focusing on solely spending money to create jobs, they infused every relief agency with cash, and prioritized porjects that put people back to work second... or third... or fourth. It was flawed thinking.
All of the economy's woes were from people being out of work. Most of us are a week or two away from being in debt. Well, once we start working, we're usually just a few weeks away from being back on our feet. Flushing us with cash (that isn't budgeted) with no real escape out of it doesn't end the problem, it only prolongs it. Yeah, it's an old argument, and it's one that we've made here a zillion times. But guess what? It works. Maybe not as fast as we'd like, but it's the best one out there.
Like our economy, the Oil Spill continues to leak - almost unabated. Capping it helped a little, just like these credits will help a little. But, the source of the problem still hasn't been fixed, and until it is, we can expect no real change. It's too late to avoid the real catastrophe, so don't expect any miracles. Which challenge am I talking about? Beats the shit outta me ...
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