The latest news about The One via that paragon of even handed news treatment, the NY Times: Obama Pledges Public Works on a Vast Scale
http://www.nytimes.com/2008/12/07/us/politics/07radio.html?bl&ex=1228798...
From the article: Mr. Obama’s plan, if enacted, would be in part a government-directed industrial policy, with lawmakers and administration officials picking winners and losers among private projects and raining large amounts of taxpayer money on them.
I don't know whether to laugh or cry. I suppose I'd better rework my resume and apply for a government job somewhere, because there won't be a better time to work for the government. But it gets better. Here's a quote from Paul Bledsoe about The One. Mr. Bledsoe used to work for Slick Willie back in the bad old days. “He [The One] is advocating things like guaranteeing every American a college education Ok, so if I can prove I don't have a college degree, will all of you pay for my degree? I'm headed for a PhD in either law enforcement – soon to be the number one industry in the United States – or Psychology, with a specialty in depression and substance abuse in senior citizens. I'll only charge eight zillion an hour for therapy.
Think about it. Lawmakers and administration officials. A group that knows nothing about business will be provided with all the incentives they need to select a given business for government funding, just because it's a good idea. The list of things wrong with this plan is too long to contemplate, but the thought of graft and corruption are in the top five. If this actually comes to any kind of fruition, does anyone want to give me odds on StripperGate in the next four years?
Not only will The One's plan fail miserably, it will land the US deeper in debt than we are now, if that is possible. And remember, to get it passed The One is going to have to spread a ton of grease around in Congress.
This is bad. Real bad.
At least you're staying positive.
A public works program and deficit spending in general during a recession, are good sound economic ideas.
Pink Slip
Pink Slip
Subscribe to the JM Keynes newsletter, do you? I'm not arguing against deficit spending or investing in the infrastructure. My argument begins with the selection of projects that are deemed worthy of investment and followed by the return on that investment. I conclude that the United States does not need another catastrophic plan to stimulate the national economy, which is what The One's plan amounts to.
Naturally, if I'm wrong I'll apologize profusely and in public. I'll even buy you a drink or six, because I'll be able to afford it. If you're wrong my taxes will double, I'll have nothing to show for it and none of us will be able to afford to drive anywhere.
Mad Jack
Mad Jack's Shack
You're a conservative...what part of borrow and spend don't you like?
That's right, you only like to borrow money for wars and tax cuts for the rich...
and the part of borrow and spend that I don't like is the borrowing and the ruinous interest rates that follow.
I have never argued in favor of the Iraq war, and the only good that I can see that will come out of that conflict is the execution of a murderous dictator and his cohorts.
As far as taxes go, we are so over taxed in the US that the economy stalled. We are the middle class, both upper, middle and lower.
Mad Jack
Mad Jack's Shack