Since the election, I have given the president time to prove himself to be incompetent rather than running with my own impressions of him as a candidate. In recent days, as our side has turned against him and as his side has turned against him, the president has proven himself to be exactly who we thought he was during the election cycle. He is a man of no ideas running on empty words. We are going to see debt run up to unprecedented levels and the futures of our children stolen as the money spent today does not exist and it is future wealth that is being spent.
As each day passes, we do not know what the president will do next. One hundred billion dollars is no longer that much money. At the rate we are going 10 trillion will soon be a benchmark amount for random government spending to fix the economy.
At the bar today, I watched the Jack Cafferty file and he noted, via a letter posted on the screen that the economy was liked a clog drain and that the money being thrown at it was like additional water being thrown on top to push the clog through. I think, more apropos would be that the water thrown on top is not doing anything and will soon overflow. For example, right above my unit (Manhattan language for home) there is a tenant with the tendency to leave for months and leave his window open. The rain over the months adds up in his tub and begins to accumulate. In the past few weeks the water has overflowed and caused intrinsic structural damage to both his apt and ours. That is what the Obaconomy is doing. You can’t keep throwing water/money at a clogged sink, you need to drain it and let the water/money pass through.
We are often blamed for not having solutions but merely trying to throw blame on the president and congress. We do so because they fully deserve it. I can expound but look at Chris Dodd’s role in both countrywide and the AIG “scandal.” Anyway, solutions are needed in times like these. We don’t need to throw taxpayer money at the problem but allow taxpayers to have confidence in the system again. Initially, I would recommend cutting capgains to a more reasonable amount in order to get more people to invest in the market. It is hard to sell a flailing economy when any likelihood of profit will be erased by hideous taxes.
In addition, I would cut small business taxes to increase hiring. More money retained by small to large businesses would allow the businesses to either hire more or acquire more inventory which would allow the manufacturer to hire more people.