To cut one’s nose off to spite one’s face is an old saying that as of late has taken on a governmental perspective. The President, in his effort to address the economy and the latest job market slump, is proposing a plan that will do exactly what the old saying says. Trying to borrow ones way out of a mess caused by too much spending on credit in the first place is bad policy. If we try, we surely will cut our noses off to spite our faces!
Money is tight, and if you happened to catch any of the battle over raising the Debt ceiling you can appreciate America right now is not one in the mood to support any plan without clear concise ideas as to how it will be paid for. Least of all a plan that says we will make cuts later to Medicare or Social Security to fund it. Offering a plan that seeks to borrow money to jump-start an economy that has a very dead battery is the equivalent of using a dead battery to do the jumping. America has just about had it with borrowing money to make the rich richer and that leaves the ones the plan was intended to help no better off than before. As I write, the plan is not playing well to anyone.
Again, with this plan, for those of us wondering if real change will ever be part of this administration, it looks as if we are to be disappointed again; unless of course the President takes the three to four hundred billion he seeks and has government officials posted on street corners around America and they begin passing out cash on the streets. Now that is a plan George Bush tried. What did you spend your two hundred dollars on? How soon we forgot methods that didn’t work
This plan creates jobs by building infrastructure. Problem is few laid off bank workers are about to go to school to learn to drive caterpillar tractors. Again we hear we need to spend money to invest in solar energy! One of the largest loans made to a solar energy company so far, just got defaulted on and guess who is holding the bag?
Our only chance at making this plan work is to get the money from the two sacred cows the President and Congress have no plans to tap! Despite the President saying that he does want to tax the super rich and go after some corporate loopholes regarding their private air fleet. Knowing full well he has no real political support to do so, he can say he wants to all day, with no fear of having to actually go through with it. The super rich and the multi-national corporations that call the USA home have little to worry about and the government will continue to look for cash in all the wrong places!
America’s corporations are sitting on a bonanza of cash. One estimate sets collective coffers at three trillion. Business is good abroad and investment here is almost nil. Calling them America’s corporations is a bit of old school I know, but here is where they got started, and here is where they call home. Few want the designation of being labeled foreign companies if they hope to be part of our election process. Yet the corporate conscious is not the least bit annoyed one of their markets is down, while all of their other markets are doing quite well! And until they do, the rest of us will continue to better understand what living in a Corpaocracy is all about!