Feb.12.2008
6:47 pm
by johnsblogs42
Glenn Beck and the “Debit Cards” Theory
America already has a deficit problem that a 160+ billion dollar stimulus package WON’T solve. Add to that the need for a hasty last minute “rewording” of the package since it was discovered that a healthy portion of the money would have gone to Illegal Aliens, and we can see just how important it is for the government to NOT intervene in the markets.
It is always best, to allow the markets to adjust themselves. It benefits no one, save the politicians that push the ideals, when putting the governments hand in the cookie jar. And on this note, I’m pointing the finger at BOTH sides of the fence.
Enter Glenn Beck, and his thoughts about the stimulus package. Like me, Beck believes it to be the last ditch efforts of morons to try and score points for their parties. In his article found on CNN, he reminds us of how bad a choice it was, during 2005 and the Katrina/FEMA fiasco, that the issuing of debits cards were.
Here is the text link for the article: http://www.cnn.com/2008/US/02/12/beck.stimulus.package/index.html?iref=hpmostpop
But on the issue, Beck brings up a good point. During the Katrina era, the “debit cards” issued by FEMA were embarrasingly enough, used on non-essentials like breast implants and other luxuries instead of essentials like food and water. With our stimulus package, we will be cut rebate checks. And as Beck mentions, nevermind that the government is already working to process over 140 million tax returns.
But the luxuries and non-essentials are exactly what the government is HOPING we will spend the rebates on. In essence, to stimulate the economy. Beck’s proposal regarding the stimulus package that we really don’t need and can’t afford? Issue the debit cards again. And put a time limit of three to six months on them. Use ‘em or lose ‘em.
Makes more sense than anything else we’ve been hearing of coming from Washington as of late.
In closing, the stimulus package should never have been considered, when instead more tax cuts for businesses and the populace should have been the ideals to go with.
http://hoopyfrooddude.blogspot.com/2008/02/glenn-beck-and-debit-cards-theory.html
Sphere: Related ContentFiled in Creating Prosperity, Uncategorized |
A Wall Street Journal opinion piece cited Say’s Law, which says essentially that we can’t consume what we don’t produce. If the government hands out money, it must borrow money, thus leaving the amount in circulation constant. There are serious questions as to whether the rebates will really stimulate the economy.
Tax cuts to stimulate business (and thus produce more) are the way to go. Also, of course, not imposing carbon taxes that encourage energy-intensive businesses to move offshore.
(On another note, you only need to upload the Grim Reaper icon once–then, if you look in the file of uploaded images, it will be available for use in other postings.)