Saturday, December 6, 2008
The Money Hole
As it stands right now, the great change "change" so often promised by our next president seems to be merely a continuation of the central principle of the Bush administration: if something doesn't work, the only thing to do is to throw billions of taxpayer dollars at it in hope that some of them might stick.
Announced in his weekly radio address on saturday morning, Obama's grand plan to rescue America from joblessness and economic decline is a massive "public works" bill. As could be expected, Obama did not give a price tag for this bill, but adorned it with the usual verbal superlatices such as "investing" and helping our children "compete." Obama did put a number on one aspect of the bill, claiming it will create "2.5 million jobs."
One wonders how lasting these jobs will be. For when the federal funding runs out, the people who are employed by this bill will again be out of work. The economy will not be resurrected simply because the federal employs people to repair highways and screw in brighter lightbulbs in school buildings for a few months.
America's economy was built on agriculture and manufacturing, not pot-hole fillers and lightbulb-changers. America's workers need real jobs with a steady paycheck, not glorified federal allowance money.
However, they are unlikely to get them with Obama's plan to increase taxes on employers and the upper-middle class--in other words, people who own companies and make investments. For in Obama's world, we do not emplyers and entrepeneurs to invest in our economy and start businesses when we can all instead be employed driving a dumptruck on the interstate for $5.00 dollars an hour filling potholes for Uncle Sam.
We will not here any talk from Obama about cutting the size of government and eliminating the public debt. For such actions would lead to people and companies being able to actually keep most of what they earn, allowing that money to be invested in further economic growth. Obama wants a society of dependants rather than a society of independents, a society of people who depend not on the fruits of their own labors, but rather on a little green check mailed to them every two weeks by a government printing machine, buried deep in the bowels of the ever-expanding federal bureaucracy.