As a once popular song went "If I had a trillion dollars". That's what democrats and republicans are singing on capitol hill. The recent anticipated downturn in the housing market has caused a ripple through the U.S. and world economies. The new stimulus plan seeks to prevent an economic disaster.
According to my readings we nowhere near the worst economic times. President Obama and his team must be drinking cool-aid while they are reviewing the numbers. We are not as bad off as we were in the 1980's. So, why are the cool-aid heads seeking the worlds largest stimulus package? Simple, they are opportunists, yes that's right, just like predators who feed on the weak. They see an opportunity to scare the public with unfounded information in order rape the American tax payers.
Sure, some good will come from their pet projects. However, there will be extensive and flagrant waste, fraud, and abuse. President Obama, and his team have schemed a new method for skirting representation for taxation. They are poring billions of dollars directly into state general funds. This will allow the states to commit the funds as needed. The general fund method is amusing, but will result in the same waste, fraud, and abuse as usual.
As tax payers, those of you who pay taxes, you should be deeply concerned with where your money is going. We should not come to expect a bit of waste, fraud, and abuse as a part of the political process. We need to demand our representatives represent us, and us only.
Financial Crisis Discussion