Tuesday, September 07, 2010
Obama Tax Cuts and Stimulus
Did anyone commenting here read (elsewhere) about the latest Obama business TAX CUT? If they think about it, I don't believe anyone is against the government giving us our money back, or spending it to help jump start job creation (we're so bad off, government or private sector really doesn't matter). It sounds good -- in theory. Problem is, the Federal Government is in the red, it doesn't have the money to spend, so the spending is debt. Taxpayers are ultimately supposed to foot the bill (in the future), but it's unpopular, and can hurt the recovery. Dems or GOP do the same stunts for obvious political reasons and to manipulate public opinion, so expect more for the next 2 years and beyond (whoever wins midterm or in 2012). Trouble is, tax cuts (of any kind), mean the government brings in less to pay down the debt, so it will continue to borrow from countries like China at the same time it's making them richer from "free trade" that always seems to benefit everyone but US citizenry. I'm not a Republican (anymore) and certainly have no love for the Tea Party or other right wing groups, but am reaching the conclusion that Federal spending is a problem and Keynesian economics will not aid this recovery as it seemed to during the Great Depression. New Protectionist have good arguments for microeconomics replacing Globalization with more stable and sustainable Localization. In a trade war, the US would win, because of abundant resources and educated workforce. Tragically, the US is so indebted to foreign governments that it may already be too late to stem the tide and break the cycle of borrowing and giving away our future,
Wednesday, May 19, 2010
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