$300 Billion Stimulus Package? I’ll Tell You Where To Stick $300 Billion
With the lowest-approval-rating-level-ever Congress continuing to push short term solutions focused more on stimulating votes in November than the actual economy, the latest idea is another stimulus plan that could cost $300 billion and up.
Like always, our government, namely Congress is implementing short term fixes that do not address any fundamental issues with our economy. Their actions continue to build the house of cards that is the U.S. economy. Meanwhile, our national debt continues to rise. Where does it end? I’m not sure I want to know.
Now, back to the $300 billion. If we are bent on spending this kind of money on a “stimulus” I will tell you exactly where that money should go. My solution will not only stimulate consumer spending and provide middle class relief, but will address the biggest long term national security issue we face.
Congress should put the entirely $300 billion into Energy Independence
First, let’s look at why this is a good investment.
The best short term and long term “tax cut” we could give every class of Americans is cheap gas. Imagine what kind of stimulus $1.50 per gallon gasoline would fuel? Consumer spending, way up. Saving, hopefully up. How many times have you heard your favorite Presidential candidate talk about middle class relief. Slash their gas costs by 50% and tell me what better way to provide relief?
Sure, gas has already come down from its outrageous highs, and it’s a great thing. However, a big part of this is due to the economic slowdown. What happens when economic activity picks up? I’m afraid, we will see even higher gas prices.
When it comes to national security, there is no better thing we can do than become energy independent. It will also keep dollars here and create jobs here. There is no bigger win/win scenario for the short term and the long term than energy independence. Even with gas under $70/barrel today, energy independence should be top of mind!
Next, let’s look at how to spend the $300 billion on energy independence.
I mean really, can any of us really comprehend this kind of number? It’s absurd. How much money are the leading energy companies spending on research & development? I bet you could add them all up together and it won’t come near this number.
What kind of research could be done with this budget? Hell, if you don’t want to go the R&D route, put the $300b into wind turbines in the middle of our country and start tapping the amazing wind potential we have here domestically!
Our Leadership Has To Go
Our children and grandchildren are going to be faced with paying for the decisions of our current leaders. This is unacceptable. While, I think 90% of all politicians are a joke, I’m going to single out two leaders here.
Nancy Pelosi is a joke of a leader. She is much more interested in preserving a Democrat majority and getting Obama elected than providing sound judgement and leadership for our country. If this stimulus is such a good idea, why does she want to wait until after the election to get Congress back to vote on it? Perhaps, the American people are still pissed about the bailout and this vote might hurt her party come Election Day? Nancy Pelosi must go. If I have any readers from SF who are Pelosi supporters, please add your comments below. I am open to hear why she is good for our country, but thus far, am at a loss. I encourage you to make me a believer.
Ben Bernanke is a joke of a leader. Here is a quote from his testimony on the stimulus: “commitments of resources today can burden future generations and constrain future policy options–between the present and the future…All that being said, with the economy likely to be weak for several quarters, and with some risk of a protracted slowdown, consideration of a fiscal package by the Congress at this juncture seems appropriate.” Basically, I know our children are screwed, but we need to create more jobs in the short run. Bernanke has got to go.
I’m cynical. I know it. I’m waiting to become a believer in the American leadership. Unfortunately, I think I’m going to have to keep waiting no matter what happens come November 4th.