21 January 2008

Can I borrow $145 billion?

Filed under: Rants

The President recently announced a plan to create a tax “break” for all Americans in order to fight the coming recession. The President said any plan should feature “direct and rapid income tax relief” to boost consumer spending. The thinking is that Americans are in such bad shape financially that they will head right from the mailbox to WalMart and blow the cash, which will in turn be good for the economy.

Um, what?

So we’ve exhausted any other plans then, huh? This is the best we’ve got? Banking on the fact that millions of people upside down in their mortgages and cars will rush out and blow a bunch of cash that the government was so nice to give them. Wow. What could possibly go wrong with that?

Well, let’s see…

First…where is this money coming from? The last time I checked, a few moments ago, we were borrowing money from China to pay for the wars in Iraq and Afghanistan (COMING SOON, IRAN!), but we’re somehow going to find enough pennies in the couch in the Lincoln Bedroom to give BILLIONS of dollars away to taxpayers so they can buy a flat-panel TV to boost the American spirit?

Puh-leeze.

It is a total waste of money which we don’t have. Which, ironically, makes it all the more American. What could be more patriotic than borrowing money for something we can’t afford which we don’t really need? It’s the recent American way! Six months from now nobody will even remember the checks anyway. The money will have been wasted on DVDs, getting fatter and all those other wonderful things that keep the economy going. After that, these same people will still have the same maxed-out credit cards, the same bills, and will ultimately be in the exact same shape they were before we wasted billions of dollars of money that we don’t have.

I’ve got a better idea. How about we start making our own stuff again? How about we stop relying on China, a country who is more or less laughing their collective asses of at us while they wait for our economy to collapse? How about we stop allowing greedy lenders plunder the uninformed masses with loans they know they can’t pay just to make a quick buck and move offshore before the currency is worth as much as a Zimbabwean Dollar?

This nation’s economy is in tatters, and it sickens me that the best thing our government can think of to do is send out a check to make us forget about it for 20 minutes.

End rant.

2 Responses to “Can I borrow $145 billion?”

  1. Rene says:

    John,

    I whole-heartedly agree with this rant and just to make a point I am encouraging people not to spend that money – pay down those credit card debts, put it towards the mortgage, or better yet invest it in some socially responsible mutual funds.

    In addition to this attempt to bail out the failing economy, we are bailing out those greedy mortgage lenders. Just as we do with every corporate greed scandal, the American people are rescuing the very companies that robbed us in the first place.

  2. Tim Cothron says:

    Preach on, my brother! You have crystallized the thought that many of us have on this subject. When China decides to call in our debt, will we just go to war with them? Or more than likely, when we do pay off our debt to them, then they will be in the driver’s seat for the next 100 years. I don’t have the solutions to our problems, but I can tell you that the $1200 we’ll receive will have little effect on our lives, and it does little to address the country’s problems. The dearth of long-term problem-solving will eventually be our undoing as a nation. John, if you run for office, I’ll vote for you!

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