[FoRK] Hey, big spender...

Jeff Bone jbone at place.org
Tue Jun 10 07:24:16 PDT 2008


Ka-ching, ka-ching!

You hear that?  That's the sound of giant piles of your hard-earned  
dollars --- your labor, your wealth, otherwise yours to spend on your  
kids' educations or that house remodel or that long-awaited trip- 
around-the-world or whatever *YOU* decide --- being confiscated and  
obliterated by the same-as-the-old-boss big-spending programs of  
Barack Obama.  In his speech in North Carolia yesterday, he's proposed  
several whoppers:

   - another round of "rebate checks" (what the hell good is that?)
   - creation of a large foreclosure-prevention fund (you think that  
will lower housing costs?)
   - extended unemployment benefits (you think that will increase  
employment?)
   - more tax cuts for those below $150k / year, funded by increases  
on those above it
   - $4k / year federal tuition assistance for volunteers (does the  
benefit justify the cost?)
   - windfall tax profits on oil companies (you think that will help  
pump prices? help your 401k?)
   - much more lenient bankruptcy laws (you think that will help lower  
interest rates? ensure credit availability?)
   - blanket debt forgiveness for medical costs (you think that will  
lower medical costs?)
   - free ponies for everyone (okay, I made that up)

He claims that "the dismal state of the economy is a culmination of a  
failed philosophy of cutting taxes for wealthy Americans without  
making investments for ordinary citizens."  Uh-huh.  Because of course  
"ordinary citizens" are too stupid to make their own investments;  we  
need cradle-to-grave care, oversight, and central administration of  
our wealth.  Right.

EVERY ONE of the ideas above is an economic bad idea.  And no doubt  
he's just warming up.

He made nods to the idea that spending cuts are needed to bring things  
back in line --- but neither he nor the "fiscal conservative"  
candidate have addressed any sort of spending cuts of any kind in any  
detail.


Sigh.



jb




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