Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts

Wednesday, January 28, 2009

Hope...With This Stimulus Package?!

How in the world does President BO expect me to have "hope" when he is proposing his current stimulus plan? $825 BILLION for what?! Much of the money won't even be spent for years, so how is that supposed to stimulate the economy NOW? Why not stimulate the economy via massive tax cuts that would almost immediately put spendable dollars in Ameican's pockets? Quoting columnist Thomas Sowell:

Using long, drawn-out processes to put money into circulation to meet an
emergency is like mailing a letter to the fire department to tell them that your
house is on fire.

Hope? I just hope middle class Americans like myself can financially survive the next four (maybe eight) years. What amazes me is to hear BO make comments like (paraphrasing here) "I want to make America a better place for my daughters." With this stimulus plan, I don't see it.

There is SO MUCH waste on things we don't NEED such as funding for the National Endowment for the Arts, not to mention money appropriated to organizations that actually already have a surplus of cash. And need I mention, the stimulus package includes money for BO's beloved ACORN!--why would we give those people another dime?!

So, just how much is $825 Billion (just shy of $1 Trillion)? Presient Reagan illustrated it best:

...the best way to understand a trillion dollars is to imagine a crisp, new stack of $1000 bills.

  • If you had a stack four inches high, you’d be a millionaire.
  • A trillion-dollar stack of $1000 bills would measure just over 63 miles high.
  • In $20 bills, a trillion dollar stack would be 3150 miles high. That’s about the distance between DC and Trujillo, Peru.

If you can stand it, here are some of the details of he stimulus package. WARNING: It ain't pretty.
How Big is Obama's Stimulus Package?
Breakdown of the Obama Stimulus Package
More Stimulus Facts

Sunday, September 28, 2008

Economic Bailout

It's really pretty simple when you think about it:

  • I buy a house I CAN AFFORD.
  • I make the payments the bank and I have agreed to--I've never missed one.
  • I regularly save and plan for the future.
  • I pay my bills--including paying off my credit cards each month.
  • I don't live above my means.

I'll be the first to admit that I have had some breaks in my life, but no one has handed me anything. I've worked--gone to school--taken on responsibilities at work--and it has paid off. I have been blessed, but that doesn't mean I'm just "lucky" or "more fortunate" (versus "less fortunate") than others.

wallstreetOn the other hand, if you buy more house than you can afford, take out a mortgage for way more than the house is worth, PLUS live on your credit cards because you think you DESERVE a particular lifestyle...and then end up losing your house--no problem! The government, i.e. ME and tens of thousands of other responsible adults will bail you out. We don't mind paying our mortgages AND YOURS, too!

This whole economic crisis thing really ticks me off. And what really burns my butt is that the people that orchestrated this whole mess (bank CEOs, lawmakers, etc) will walk away unscathed. Someone needs to go to jail!!! By the way, I have to pay for that, too!