Stimulus? Again? WTH? That was my thought yesterday as the President announced ANOTHER Stimulus bill with $50B for infrastructure investments. After listening to the “details” (what little was provided) it reaffirmed my first thought…I don’t think so! We still have unspent funds from the first stimulus package! And it is questionable what effect the stimulus bill had on our economy. On a good note, the President does want pay for this bill, but naturally I am not crazy about the likely offsets** to cover $50B for infrastructure investments. If we have a way to come up with $50B why don’t we pay for the stuff we have already bought? Perhaps we can pay for extending unemployment benefits and healthcare coverage —very important, but done mainly on credit.
In reality this is a political stunt, and another reason people hate political parties. Current polls show at least one chamber of Congress changing control…possibly two. (Perhaps my next post will be on what I hope will happen..and it might surprise you…but I don’t want the chambers to change control…at least not yet). The stimulus proposal outlined yesterday was not serious because its not one that could be passed in Congress by Republicans or Democrats in tough re-election battles. The proposed offsets (and tax increases) are not something that is easy to adopt with the current economic climate. As you go into the election and the R’s continue to be the party of No the D’s are hoping it buys them some political leverage at the polls.
In the end what does it all mean? You, Me, the Common Taxpayer…We Continue to get Screwed.
Did I mention that we basically have 12 voting days left in Congress this session…if they work extra hard we could have 20-24 voting days. And I know this will shock you but they have not passed ONE SINGLE APPROPRIATIONS BILL. I am sure you remember that the only thing Congress really must due each year is to pass the 12 appropriation bills that fund the federal government. I mean that is really the only thing they have to do…fund our nation by October 1…the start of the Government Fiscal Year. As you can imagine, its not looking good with only 22 days until the start of the fiscal year and only two bills have passed the House and absolutely none have passed the Senate. They will likely pass a continuing resolution and deal with it later.
I think I am going to try that at work tomorrow. Sorry boss, I can’t do my job now, can I do something else and then I will get back to doing what you hired me to do after the elections?