Friday, July 24, 2009

Spending Package

  • The stimulus package is a pure spending package and it looks like the package will be passed.
  • 3 Republican Senators have agreed to vote with the Democrats (Senators Susan Collins and Olympia Snowe, both of Main and Senator Arlen Specter of Pennsylvania).
  • In the House, all Republicans voted against the package, but it was too little too late; they are "born again budget conservatives".
  • We need more spending, but it has to be done by market forces, not the government.
  • Artifically low interest rates and inflation caused malinvestment, people to buy things that they otherwise would not have bought with honest interest rates.
  • The stimulus package is more of the same, and it exacerbates the problem and runs the economy into the ground.
  • Ther eis now a dollar bubble and there will be a dollar collapse once foreigners stop buying our debt.
  • Government intervention, socialism paper money, and dependency on the government brought us to our knees.
  • There is hope as many people are looking into this matter; we must do our very best to move this country into the right direction.