The Stimulus Bill - A Band-Aid?
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I've read so many articles on the stimulus bill, and I just don't quite understand what is the justification behind some of the proposed spendings.
- One of the proposals is to allocate $100 million for children to learn green construction.
I would have thought that allocating some amount on educating children (and some adults) on how to use credit cards would have been given a higher priority. Educating people about credit cards would have long-term benefits.
Think about it for a minute. Why do you think the banks failed? Too much bad debt. They got so greedy and over-extended too much credit to those individuals who did not know how to use credit cards and acted like they have an unconditional authority to spend when they got one.
- Another proposal is to allocate $6.2 billion for home weatherization, which spending President Obama defended:
"We're going to weatherize homes, that immediately puts people back to work and we're going to train people who are out of work, including young people, to do the weatherization, our energy bills go down and we reduce our dependence on foreign oil. What would be a more effective stimulus package than that?"
Ok, that's good. Let's say we go for that, but what happens when there are no more homes to weatherize? Back to square one - find jobs for these people who are again out of work.
If you ask me what would be a more effective stimulus package than that, I probably will allocate that amount in improving public transportation. It will create jobs, reduce fuel consumption -> dependence on foreign oil, decrease congestion, decrease cost of living, improve environmental quality, etc.
- How 'bout the $150 million for the Smithsonian Institute?
I would have preferred to see some money spent on recycling. The recycling that we do is just not enough! I know for a fact there are still some communities that do not even have a recycling program. Do I need to elaborate on the benefits other than it will create jobs?
I'm afraid what is on President Obama's stimulus bill is, sadly, mostly short-term. Just a band-aid.
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Thank you, sir, for reading and for sharing your thoughts.
It was my frustration over this issue that prompted me to write - actually, my very first hub. I just wrote what I knew about it then and have since learned other things that frustrated me even more - a lot more things that did not make any sense at all. Two years later, it sure does seem the stimulus bill was only intended to drive us into socialism. I hate to think that, but the passing of Obamacare did not help and only increased my fears. I just hope something be done to get us into a different direction. Before it's too late.
A better plan would have been to get the government out of the private sector by deregulating, employing the cut, cap and balance plan, completely cutting of government subsidies to businesses and lowering taxes. Free enterprise will stimulate the economy by itself, it doesn't need the help of the government.-Regards-WBA
WBA, you're absolutely correct. We don't have to look far to see what too much regulation will do. The health care reform alone brought so much uncertainty into our economy. Contrary to what they said it will do, it discouraged hiring and only encouraged employers to cut back. If you ever have the need to call customer service, don't be surprised if you have a long wait.
Wayne Brown Level 8 Commenter 15 months ago
You have hit on the exact point or points, the money was virtually wasted because it was spent on such projects that the movement of the money into the mainstream money supply was very poor. People who are getting their home repossessed or close to it aren't worried about weatherizing. Green construction is worthwhile maybe long term but it will not go much of anywhere in a down construction market for homes. The President talked about "shovel ready" jobs but does not seem to understand what those jobs really are. Even his 50 billion investment in road and bridge infracsture is being done with deficit money rather than using stimulus funds. This has been a botched deal from the start and in the end nothing more than a drain on U.S. assets which George Soros and apparently the President desire. WB