"It is the common fate of the indolent to see their rights become a prey to the active. The condition upon which God hath given liberty to man is eternal vigilance; which condition if he break, servitude is at once the consequence of his crime and the punishment of his guilt." -- JP Curran, 1790

Tuesday, January 27, 2009

Republicans flexing their opposition muscles

The House Republicans have expressed themselves as the opposition today by rejecting the ill-contrived Obama Stimulus package. Under the leadership of Rep. Boehner and Rep. Cantor, the House Republicans appear to be voting en masse against the plan.

At an ideological level, Obama's plan is doing a little bit of everything to stimulate the economy, other than make the market more free and unregulated. Republicans want more tax cuts to create an immediate impact. Democrats want more spending to expand the government, which would take longer to get into the economy. Tax cuts have lasting impact year over year. Spending is a one time shot in the arm. The argument against tax cuts is that not all of the money can be guaranteed to be spent. Well, if the money is saved that money is invested or expands the assets of the fiduciary holding (i.e. banks) which gives them more leverage to borrow. Isn't credit availability the heart of the problem here?

With stimulus dollars intended for things like contraception and ACORN, who would vote for this Boondoggle part deux.

http://news.yahoo.com/s/ap/obama_economy Sphere: Related Content

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