This was an email to me today. I think it's definitely worth a read!
What's REALLY in the huge $825 Billion Dollar Stimulus Package?
(By the way, you NEED to get copies of the two books listed at the end of this email!)
GLENN BECK COMMENTS AT THE END OF THIS EMAIL!!!
The case is being made by Congress and the President that we need a stimulus package right now in order to save the country. We need to create jobs and disposable income. That's probably true... but is this stimulus package REALLY a stimulus package?
Obama and Congress say they're going to create jobs by investing in renewable energy, health care, education and modern construction projects. It sounds pretty good. (Although none of those things BUILD something that can make money for the country in a global market)
Let's see what those words really mean...
Education - $142 Billion (17.2% of this stimulus) - majority going to increase Pell Grants for college education for low income students, and for reconfiguring public schools. Paying for college education for even more people sounds like a nice idea, but how exactly does it create jobs? How exactly does it help solve our problems NOW? And honestly, isn't paying more higher education for more and more people simply increasing the distribution of wealth? Money doesn't come from the government, it comes from us.
Renewable Energy - $54 billion. I think renewable energy is a great idea, BUT what they're actually spending it on is weatherizing low-income homes, grants to families of limited means to get new windows and insulation. It's also being spent to better insulate and update 75% of federal buildings. How is this renewable energy? It's STILL redistribution of wealth. Take from one group to buy windows for another. Don't believe this is actually his plan, check out CNN's report on Yahoo at http://finance.yahoo.com/banking-budgeting/article/106490/Stimulus-101-What's-in-the-Bills
Health Care- No, it's not what you think - it's actually $20 billion being spent to computerize all health care records nationally so that we have a single database so that the government can know everything about your health situation (makes it easier to take over health care later). Again, how is this stimulating the economy?
Feeding the hungry: $20 billion. Increase food stamp benefits by 13%, and provide support for food banks. Stimulus? ‘ Nuff Said.
Medicaid: $87 billion. Increase Federal Medicaid Assistance Percentage so states do not have to cut eligibility for Medicaid due to budget shortfalls.
Construction projects: $90 billion. Although part of this is going to rebuild roads and bridges, much of it is going to provide funding for mass transit systems, which has failed in most parts of the country.
Science, research and technology: $16 billion. Invest in science facilities, research and instrumentation to create new industries, new jobs and medical breakthroughs. Expand broadband Internet access in rural and underserved areas. The ONLY part of the bill that might make sense.
From CNN - The case against: Opponents argue the spending will lead to a rapidly increasing and unsustainable deficit. They also say that a majority of infrastructure projects (ed: a small portion of this entire bill) will take too long to implement.
Remember that everything spent by the government comes from us. WE pay the bill. These hundreds of billions of dollars will create a deficit (a loan) that we'll have to pay back over time. The government BORROWS the money through sales of bonds and then owes MORE money back at the end. This $825 Billion will probably cost us several Trillion over time. Can we afford it?
Forward this to everyone you know!
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How to Sell Your Home in ANY Market (Loren Keim) If you're being crushed by the subprime industry, can't pay your mortgage, need to get out, you can, regardless of the real estate market in your area - by using the tips and techniques of Real Estate guru Loren Keim. In his entertaining, anecdotal style with real world stories and examples, Keim shows how to get your home sold fast regardless of market condition.
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Other Great Reads about the Current Economic Crisis! |
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Financial Shock (Mark Zandi) "The obvious place to start is the financial crisis and the clearest guide to it that I've read is Financial Shock by Mark Zandi. ... it is an impressively lucid guide to the big issues." "In Financial Shock, Mr. Zandi provides a concise and lucid account of the economic, political and regulatory forces behind this binge." -The Wall Street Journal
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The Return of Depression Economics, Krugman shows how the failure of regulation to keep pace with an increasingly out-of-control financial system set the United States, and the world as a whole, up for the greatest financial crisis since the 1930s. He also lays out the steps that must be taken to contain the crisis, and turn around a world economy sliding into a deep recession. Lucid, lively, and supremely informed--this new edition of The Return of Depression Economics will become an instant cornerstone of the debate over how to respond to the crisis. |
Glenn Beck: Is President Obama's stimulus package socialism in disguise?
Check out Glenn Beck at www.glennbeck.com
I thought President Obama said this is supposed to be a quick "jolt" to the economy? The president has also billed the stimulus as an investment in America's infrastructure. And if that were true, I'd be all for it. I mean, I-95 here on the East Coast isn't exactly the autobahn.
Yet only 3 percent - just $30 billion - of this entire package is dedicated to road and highway spending. Then you have the promise about creating "green jobs" and clean energy. Again, you want to seriously get wind and solar and nuclear power off the ground, I'm in. But this isn't serious. Only 2 percent of the money is earmarked for clean energy and only 1/7th of that will be spent over the next 2 years.
The CBO tells us that billions of dollars are going to buy new computers and replace government cars with new alternative fuel vehicles. In all, the money is going to 150 different federal programs - from Amtrak to the TSA - and it's not clear a single new job will be created. America, let's call a spade a spade: This package isn't meant to stimulate the economy, it's meant to reshape it.
If President Obama, Nancy Pelosi and the rest of the progressives really believe that socialism is the best way out of this mess and the best way forward for America, then make the case. Let's debate it and allow the American people to decide. But what they're doing now - using fear to promote long-term changes to the country - is exactly the kind of thing that has led to the biggest deficit of all: The deficit of trust we now have in our leaders.
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