Posted by: Puma1 | January 28, 2009

Stimulus III: Worst. Legislation. Ever.

The $900 billion dollar (at last count) stimulus bill is more than a pork-laden boondoggle which threatens to bankrupt generations of Americans: it is shaping up to be the worst piece of federal legislation in American history.

There are a myriad of problems with it, not the least of which are its billions of dollars in ridiculous corporate and lobbyist handouts of the money you earn at your job daily. The worst part though are Obama’s “refundable tax credits,” that is, the notorious “spread the wealth around’ goodies of note.

For the uninitiated, a refundable tax credit is simply a way for the government to give tax refunds…to people who don’t pay taxes. Yes, you read that correctly. It is socialism at its most naked, and the stimulus bill contains at least $82.7 billion dollars worth. Bet you didn’t know voting for change meant your money would be given away for free to people who don’t work at all.

Deficit hawk Ron Paul thinks this bill — which every American should read (takes about an hour) — will turn current our Bush Recession into a full-blown Obama Depression:

Since the extraordinary amount of spending promises to destroy the dollar and promote Carteresque levels of inflation, we have to agree with Dr. Ron for once.

Stimulus I, last year’s tax rebates, does not appear to have stimulated very much.

Stimulus Deux, last fall’s $700 billion TARP crap bill, infamously lined the pockets of Wall Street fat cats — aka Friends of Barney Frank — with taxpayer money while doing little to help everyday Americans.

Still, it is hard to imagine a more disastrous economic plan than Stimulus Part III. Ideally, it would be a specific, focused mix of middle class tax cuts and infrastructure spending, targeting short-, mid-, and long-term economic recovery and growth, in that order. Instead, as written the stimulus is an ugly crock pot of bureaucratic giveaways and wealth redistribution. It stinks.

For good reason, liberal economists dislike the bill. Conservative economists dislike the bill. The American people dislike the bill, and we should be writing our Congresspeople daily until the Obama stimulus is defeated (incidentally, you can use this form to contact your Congresspeople online).

Meanwhile, maybe Obama, Congress, and their lobbyist friends should try to kick the $900 million up to a cool trillion — you know, just for sh*ts and giggles to see how much butt-raping the American worker and taxpayer will take before saying enough is enough.

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Responses

  1. Obama says his “recovery plan will include UNPRECEDENTED measures that will allow the American people to hold [his] administration ACCOUNTABLE” yet Obama refuses to be held ACCOUNTABLE to the same American people for his UNPRECEDENTED refusal to show his actual birth certificate.


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