Monday, February 16, 2009

Stimulus Bill Watered Down

The Stimulus Bill that was passed and has been reconciled in joint House and Senate committees is a far cry from the original bill that was touted during the lame duck time of GW Bush during the transition. The Bill that has surfaced and is awaiting President Obama's signature on February 16, 2009 includes many Republican ideas dealing with tax credits. The Democrats acquiesced to the Republicans in hopes of getting bi-partisan support including tax cuts that are valued at 42% of the total bill's expenditures.

Other industrial countries that find themselves besieged by the same situation have decide to spend upwards of 20% of their GDP to stimulate their economies, while the US Bill barely approaches 2% in expenditures and almost 2% in tax cuts. Why would President Obama and the Democratic House and Senate allow the Republicans to dictate the details of the bill. Their old tired ideas of tax cuts for the rich trickling down to stimulate ye economy have already been proven to be a failure. It is ridiculous and detrimental to the Nation to allow the failed philosophy of economics to be included in any hopes of recovery.

Because the total $800 Billion is not spending but now 42% tax cuts to appease the failed Republican philosophy this stimulus bill will not accomplish what it was suppose to accomplish, President Obama and the Democratic Congress will now get the blame for the Stimulus failing. The only way this Stimulus had a chance of working was to dedicate massive spending to getting this Nation off of fossil fuels and onto a system of Alternative Renewable Sustainable Energy. Billions of dollars should be dedicated to having every Government owned Building retrofitted to alternative energy and removed from burning fossil fuels. This would have created the necessary millions of jobs now, save the Government Money in the future and spurred on a new industry that would grow for decades.

The Republican were in the Economic Driver Seat for eight years under George W. Bush and they drove the car into the lake. There is no reason to forgive them and new car and driver's license. President Obama should expose the failures of the Republican Philosophy, and have the Congress pass Bills that will comply with the Democratic Ideas.
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