In regards to President Obama’s new stimulus package, Ohio Republican House Minority Leader John Boehner “appeared before reporters Tuesday morning [and] applauded Obama’s planned meeting with congressional Republicans, but reiterated his belief that the bill, as currently drafted, would significantly add to the debt while failing to spark sufficient job creation.”*1
Boehner’s fellow Republican and member of the House GOP leadership Mike Pence added, “The current version of the bill “won’t stimulate anything except more government and more debt.”*2
Hmm… for the first time since 1977, unemployment is up in all 50 states. Did the Bailout package stimulate the economy? Didn’t CitiGroup just attempt to buy a 45 million dollar luxury jet? Didn’t AIG Executives spend 440,000 dollars on a retreat? Aren’t the same gentlemen who captained our economic ship into the breakwater still at the helm? When the elites are receiving the money, it is approved in two weeks. When there is talk of the people receiving these funds, there is a stigma attached—somehow they are not trusted to spend money wisely. One of the Republican plans to stimulate the economy is opening the doors for more federal loans by lowering the qualifiers which screen out borrowers who have no business borrowing, making these loans more enticing.
Same ol’ system that got us here in the first place.
Loans are problematic. An example is when “bankers [give] themselves large salaries and generous bonuses, at the same time they are lending millions of dollars on what … [are] essentially parcels of bare dirt with little potential of big income.”*3
The American institution of debt, of spending debt, ‘liquid money’ at work.
“Silver State and others loaned money on the promise of Las Vegas’ commercial real estate boom … Records show that land and houses were being “flipped” or resold over and over at huge profits.”*4
The Obama Administration’s stimulus plan deconstructs to these semi-basic points: money goes to the states to help reduce their debt, to help reinvest in their infrastructure. Money goes to business to promote growth and hiring. Money goes to Food Stamps, WIC, Medicaid and unemployment benefits.
Some of the debates referencing unemployment benefits and Food Stamps not stimulating the economy are debated from an impatient standpoint. The point of these programs is to ensure people are capable of becoming stable. This leads to a stimulated economy. Beyond the capitalist ideas that funds should be funneled to those in the position to produce pure growth, it’s apt for Republicans to remember money often wasted on pet projects and padded pockets, can serve as support for struggling citizens. It would be wise to not forget the core of America are its people, and a people beaten down into complacency is not the sort of complacency the elites want, as it is likely to breed resentment laden revolutionary ideas, where the government’s current incarnation doesn’t remain intact. Think they’re ready that?
by Michael James Martin
1 & 2: Brianna Keillar, Ed Henry, Dana Bash, Deirdre Walsh, Catherine Clifford. “Obama tells GOP no compromise on tax rebates.” CNNpolitics.com 1 January 28
3 & 4: Drew Griffin and David Fitzpatrick. “Small bank’s meteoric rise eclipsed by collapse.” CNN.com 1 January 27