Friday, November 14, 2008

Stimulate The Street

Although President Elect Barack Obama held his first Press Conference and dedicated it to the Economic Devastation that the United states now faces he did not address the real economic stimulation that is needed. Mr. Obama spoke about grants to States, and extending unemployment benefits but what is desperately need is for spendable money to be put back onto the streets of the Country.

The only thing that Bush seemed to understand was that money placed in the hands of the People is the quickest way to stimulate the economy, he did not go far enough. Although he and his Party pushed through rebate checks for all Americans to try to stimulate spending, they did not go far enough. The $600 Checks was about 25% of what is really needed to stimulate a surge in consumer spending and the depletion of retail inventories and wholesale stock piles. In order to get Americans working again, the finished products that are sitting on store shelves and in wholesale warehouses need to be depleted before manufacturing can recover.

A similar rebate check amounting to at least $1200 per person is needed now to turn our inevitable downturn into Depression. President Elect Obama seems to be preaching a moderate cautious approach when he speaks of grants to the States and extensions of unemployment benefits. Both good ideas, but both ideas that will take months to start impacting the available money on the streets of America now.

Major Corporations, most that were the cause of the crisis by their excess, are receiving hundreds of billions of the people's money, President Elect Obama, Shouldn't the people receive the people's money first? Do not fall victim to middle of the road centrists governance, we did not elect you to move slightly left of the Republican Party, we elected you to Govern for the People.
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