First off, what will happen to local lenders if the government gets in on the action? Right now, most of the local, small banks are in good shape. How would it be if all of their performing loans were taken out from under them as people refinanced with Uncle Sam?
Then there are the tax cuts. Tax cuts for the poor, tax cuts for the middle class, tax cuts for housing, tax cuts for businesses, and, for all I know, tax cuts for people who own pelicans as pets. Where does it all end? At some point, someone will need to pay, you know, taxes for all the goodies we get from the government. For the way this will all end, see also: California, Massive Deficit of.
Everyone in Washington wants to be seen taking action about the economic crisis when in fact, inaction is what's called for. We need to calm down and let things settle out. This is a cultural crisis, not a political or economic one and cultural changes happen slowly. With that in mind, I've got a new slogan for opposing the stimulus porkgasm:
Don't just do something, stand there!
What do you think?
4 comments:
That's good advice for *most* of the occasions where people are agitating for the government to "Do Something!".
Historically, the nation seems to be best governed when the Republicans and Democrats are pretty much equally matched, resulting in neither party being able to ram through the stuff they want. The writers of the Constitution seemed to be of the opinion that "King Log" was preferable to "King Stork" and set up the government accordingly. I think history has shown that this was a great idea.
I've said this before. The best way to fix the economy is to do nothing.
It won't be pleasant for lots of folks. I know that. I "feel their pain".
But it is either that or my children, your children, and generations yet to come will feel the pain for years and years.
KT, I like your slogan.
Maybe 'cause I'm clinging to a narrow economic theory, I don't have a problem with the tax cuts.
The car purchase rebate offered up by the Republicans smelled fishy, though. Similar to what colleges and universitiesy do, would not the dealerships simply raise the sticker price by a corresponding number in response to the taxpayer/potential buyer being afforded more apparent buying power?
KT must be getting newspapers from the future... today' WSJ editorials sound the exact same themes...
(warheit)
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