House Passes “Economic” Stimulus Package

And another step towards the Socialist Nanny States of America continues. That or someone is fond of the failed idea Keynesian economics.

House Passes Economic Stimulus Plan

Zero Republicans voted for the bill, being joined by eleven Democrats in their opposition. So much for President Obama vaunted bi-partisianship for this pork fest special interest pay-off. My only hope is the Senate cut as much of the garbage and pork instilled in this bill by corrupt politicians at the behest lobbyists and neo-socialists.

Remember to Read the Stimulus!

Examples of pork and other assorted unnecessary spending in the bill:

  1. Billions for the DoD for facilities maintenance and upgrades. This should be part of the normal military budget.
  2. Billions for broadband internet. Laudable but should be part of the regular budget. For that matter, should the government be in the business of broadband internet?
  3. Billions for DH&HS. Again should be part of the budget, not an economic stimulus program.
  4. Millions for STD prevention. Laudable, but having nothing to do with economics, I’m afraid.
  5. Billions for carbon capture demonstration project. Once again laudable, but should be part of budget not the stimulus bill.
  6. Billions to states to help “balance their books”. The federal government should not be involved in supporting the fiscally irresponsible state governments.
  7. A billion dollars for Amtrak. Privatize this elephant already and quit throwing good money after bad.

You know this thing is a failure for the future when only about 12% of the bill will actually have any future stimulative effect on the economy according to the experts.

10 steps (and nothing else) I think would better serve the economy:

  1. Permanently reduce taxes on personal income.
  2. Assistance and aid for mortgage debt. Force renegotiation of home values to actual levels rather than the overinflated levels.
  3. Passing usury laws against credit card companies slashing interests rates to levels in line with the banking industry (i.e. 4-5%) and requiring payments count at least 90% towards principle debt, not interest.
  4. Extend unemployment benefits.
  5. Extend and expand business and skills retraining programs.
  6. Permanently cut corporate tax rates to 15%-20% for in country corporations and make corporate taxes on those who transfer jobs/production facilities overseas 30-35%.
  7. Temporary tax breaks on businesses for payroll, insurance, et. al., to encourage keeping jobs until economy is better.
  8. Investment into infrastructure. (Which is in the stimulus bill.)
  9. Temporary freeze on all government workers pay. Politicians should take a pay cut (if not take any pay at all). Everyone should have to shoulder the burden of the bad economy.
  10. Pass a balanced budget amendment.

Not a complete solution, of course, but at least it’s a far more reasonable start than the “stimulus bill”. It’s not the role of the government in a capitalist based economy to create jobs, nor is its to support failing companies or political entities hiding as an array of NGOs and non-profits.

And in closing a little humor:

Cry, comrades, cry.

For the time of the socialist is nigh.

Now we may all live well,

But they’re not gonna tell

That our grandkids will live

In financial hell.

Politics and Finances

Obviously the last few days have been something of a political and economic turmoil what with the on-going Presidential election and the near meltdown on Wall Street. Some points have caught my interest today:

1. Democrats criticizing McCain on leaving his campaign to work on the financial crisis with his fellow Senators. While I am ambivalent over his asking for this Friday’s debate to be delayed I do find myself offended by some Democrats insisting it’s a political ploy (mainly elements of the Obama campaign) or that his presence would somehow slow down the process (as claimed by Senator Frank).

2. Democrats still falsely claiming the financial crisis is entirely the Bush Administration’s fault. I don’t like Mr. Bush but I dislike those who refuse to take responsibility for their part in causing the crisis either. It was Congress who failed, repeatedly, to overhaul the system despite warnings from experts and members of the Congress from both parties as much as it was the Fed and Treasury Secretary’s fault.

3. Apparently their is some faux controversy (entirely in the minds of allegedly mainstream news reports) over Pakistani President Asif Ali Zardari calling Gov. Palin “gorgeous”. What would they have preferred he say?

“Excuse me, Gov. Palin, while I flee the foul stench that announces your presence in order to gouge my burning eyes out so that I may never view your hideous face again, inshallah.”

Yeah, that response would have gone over so much better. /sarcasm

And that is part of the problem with this country where people can’t simply give a compliment without someone getting their knickers in a twist or it being turned into hay for some socio-political agenda.

Some of my favorite notes, humor, news and other tidbits I’ve picked up from across the airwaves, net, and so on:

A little late but Joe Biden gets big nod for this laugher:

When the stock market crashed, Franklin Roosevelt got on the televisionand didn’t just talk about the princes of greed.

*chortle* This one goes up there with Obama miscounting the number of states and McCain’s humorous slip about “growing the government”.

A friend noted to me on the whole bailout and it’s effect on the next President:

It doesn’t matter who is going to be the next President. If the bailout fails, they’ll be remembered as the worst President is recent history.

I noted several bloggers turning the childish “McSame” and “McShame” around on the more radical Obama supporters with slogans like the following:

Change McCain Can Do.
McChange You Can Trust.

Sure, not the best stuff out there, but neither are the original derogatory names any better so there you go.

And in closing, remember to educate yourself on the issues and candidates before you go out and vote, people!