Please Keep The Pigs Penned When Finalizing The Stimulus Bill
Just as predicted, the stimulus plan is all the rage this week. You can’t go onto any business or news site without seeing some trace of it. Well, either that or the bonus and executive pay caps that are being imposed on companies who accepted bailout money.
But since we’re already certain that we hate the “idiots on Wall Street that are kicking sand in the face of the American taxpayer,” as Senator Claire McCaskill (D -MO) recently put it so eloquently, let’s leave that one alone for the time being. Somehow and unfortunately, I’m sure it will come up again.
(However, if you do want to read more about it, Smart Profits Report sister publication Money Morning has a free detailed analysis of the problem right here.)
Is It Urgency We Need Or Thoughtful Consideration?
Right now, both parties are still duking it out over what portions of the stimulus bill are necessary and what could and should be cut. Honestly, from what I understand about the bill, there’s a lot that falls into the latter category. Since when did Hollywood need additional tax cuts over the rest of the country?
Senator Susan Collins (R - ME) says that while she wants to work with both sides to form an appropriate “mix of tax relief and spending proposals,” she isn’t “at all certain that [they] have achieved these goals in this bill.”
That seems to be the general consensus of many other Republicans and some conservative Democrats in the Senate. So despite President Obama’s urging that “What Americans expect from Washington is action that matches the urgency they feel in their daily lives,” this isn’t going to be a quick or easy process.
I’m not so concerned with how fast the measure is implanted. In fact, I believe that any time we as a country - or for that matter, as individuals - spend that much money all at once, we had better be darn well certain that it’s worth the cost. That means taking time to consider every detail and angle is very necessary.
We all saw the mistakes and oversight made the last time lawmakers spent that much money. And really, has it helped at all so far? If all the drama broadcasted daily is any indication, I would have to say no.
So my advice to our politicians is: Take all the time you want. But to both sides of the political spectrum, please don’t add frivolous bits of fluff to the bill in the name of bipartisan spirit, raising the final tally for no good reason. This is a lot of money we’re talking about… money that we’re all going to have to pay back at some point or another.
Thursday, February 05, 2009 - by Jeannette Di Louie, Assistant Editor, Mt. Vernon Research
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