The Jobs bill provides a generous Tax break to businesses that hire those who have been unemployed.
Before becoming a staunch Democrat ... thanks to Howard Dean and Barack Obama .... I was an unenrolled independent. I agreed with many Republicans that tax incentives for businesses to hire workers made some real common sense in economic downturns.
So whats not to like about this bill ?
Why did only Five Republican U.S. Senators vote to move the 15 Billion dollar Jobs bill to a vote ?
Does the Republican Party truly believe that they can win in November by working against legislation that can actually further our economic recovery ?
Even our new Freshman Republican Senator Scott Brown of MA, One of the Five Republicans, understands that voting against a Jobs Bill while unemployment hovers around 10% is committing political suicide.
Whats wrong with the Republican Party ? Has it become a party made up of juveniles that stand and pout when they don't get their way ?
We need to call the Republican leadership out on this !
This is an Outrage ... what happened to setting aside partisanship for the good of the country .... Democrats have done this on many occasions. Its called Political pragmatism ... something is better than nothing.
It's time for the Republican's to do the Right thing or prepare for defeat this November.
There are Hard Working unemployeed American's that are counting on American leadership to bolster this economic recovery with Jobs. Last I knew being an American and a leader does not depend on Party affiliation.
My message to the RNC comes from a great american patriot ..... Thomas Paine
Lead, Follow or get out of the way !
-Vince ;-}
"This country will not be a good place for any of us to live in unless we make it a good place for all of us to live in." -Theodore Roosevelt
Robert Samuelson has criticized President Obama's Strategy of building economy on the basis of Healthcare and Green Energy, saying its not the way to build productive economy by any economic logic. Do read his arguments on following link.
http://www.washingtonpost.com/wp- dyn/content/article/2009/04/12/AR2009041202261.html
He seems to be endorsing the view that the markets take better decisions for society .
My comments:
I agree that Administration is taking so many ‘uneconomic’ decisions, but political realities have ‘really’ become more important than economic realities. The job of politicians is to change values in politics and hence, value perceptions in economics. It is not imperative that we hold same values of yesterday for tomorrow. It is not just the wasteful spending which inflates the economy and allows frauds that has to be regulated; we might be on the verge of total breakaway from the past and may change/innovate the politics for good.
Green Energy or Healthcare focus are not 'producing more for less’ as Samuelson describes, it is attempt of 'producing new more for new less '; the transition of old to new has to be lead causing the minimum social disruption. Robert Samuelson is entitled to have different estimation of the disruption, but it is the ‘new’ that youth likes and finds appealing. Yes, we are experimenting!
It is not post-material economy, it is pre-'something' economy.
April 2, 2009
"The new “New World Order”
© Enrique Woll Battistini 2009
Now that the G20 Summit in London is over, it is fair to ask if sufficient attention was given by the leaders of the world's 20 richest countries to the economic and social conditions and prospects for development of the remaining 90%, which as should be noted, are non-OECD members and located mostly in the Southern hemisphere. Why is it considered acceptable that the rich and powerful decide on the fate of the poor, without their consent? Poor does not mean stupid or morally inept. Rather, it means disenfranchised, still, and that, in the new “New World Order” proclaimed by Gordon Brown today, should be abolished forthwith. The grossly unacceptable welfare imbalance between countries in the Southern and Northern hemispheres also must be corrected forthwith. It is a reflection of the gross capitalization imbalances between them, and will cease in short order if G20-supported special action to promote North-South foreign direct investment is undertaken. For such action to be successful, it must occur in the context of for-profit PRIVATE-PUBLIC Partnerships in each of the three main geo-economic North-South scenarios -The Americas, Europe-Africa, and Asia-Oceania. These Partnerships must be comprised of the fittest surviving financial companies in the leading OECD-member country in each scenario, and their counterparts in each non-OECD or developing country in that scenario. In addition, each Partnership must include appropriate multilateral institutions relevant to economic and social development and their counterpart local governmental entities, in a supporting role. Without question, these Partnerships must be for-profit, as stated, and must be led by the private sector. It is not enough to reform the international financial system, abolish banking secrecy, super-inflate the IMF, or to enact a massive world-wide deficit-spending scheme. In The Americas, the Partnership could be called, for instance, "A Partnership for Development with the United States of America" ("Sociedad para el Desarrollo con los Estados Unidos de América"). This idea was first proposed in 1992 to President Clinton, and in 2005 to Chancellor of the Exchequer Gordon Brown. Perhaps its time has finally come.
***
Dear President Obama and Secretary Geithner,
I have read extensively about the issues of this crisis you are both facing and I certainly sympathize with the situation. However, as pretty much the average American, I wonder why this is so complicated. We tend to over think, when simple solutions might be the best. While I do not have the knowledge to put all the numbers together, I do look at the situation and think, why should the investment markets continue to have their risks covered. They knew what they were doing or if they did not, then they deserve what they are getting.
But the middle class American is the one that cares the burden. So I end up asking, how do we get out of this financial mess? At this point, we have a two-pronged issue. One, we need to stabilize the financial markets by allowing there to be some understanding of the risk in the loan portfolios that the banks have created. Two, we need to provide consumers with some added income to spend to get the economy rolling. So the question is how to we accomplish this?
To me the answer is found in a very simple and straight forward process.
Step one, all consumers would be eligible to go to the bank of their choice and refinance their primary home loan. The process would be:
· Have an independent appraisal done.
· This appraisal would be used to issue a new loan against the property the terms would be 4.5% interest for a maximum of 30 years.
· The amount of the loan would be the “current” appraisal value, capped at a 20% reduction from the original appraisal value or the amount owed on the current loan.
· Only primary residences would be eligible.
· The banks would send the revised loan total to a fund set up and managed by the government. The existing creditors would then apply for payment from the fund for the note they hold against a home. It would be up to them to unravel the CDO and figure out who owns what and make claims against the fund. The fund would pay out the “new loan” amount as payment in full on the CDO’s.
Here are a couple of examples:
Example 1 - Home purchased in 2006 for $300,000, 6.5% 5 year ARM, nothing put down. Current outstanding loan payoff is $290,000 and monthly payment is $1,896.
Reappraised in 2009 for $225,000, new loan created for $232,000, 80% of $290,000, at 4.5%, 30 year loan. Monthly payment would be $1,175.
Government fund would receive $232,000 to “payoff” current debt holder. Current debt holder would get $225,000. Consumer would have security in home at a new adjusted value and an additional $721 per month to spend, assisting in an economic recovery.
Example 2 – Home purchased in 2000 for $300,000, 7% interest, 30 year mortgage, 20% down, current payoff $250,000. Monthly payment $1,729. Does not need refinancing since home has not “lost value”.
Reappraised in 2009 for $295,000. New loan given for $250,000 a 4.5% for 30 years. New monthly payment $1,266.
Government fund would receive $250,000 to “payoff” current debt holder. Consumer would have security in home at a new adjusted value and an additional $463 per month to spend, assisting in an economic recovery
Couple of other keys to making it work:
· No credit check, if the person is in the home and is not over 60 days late, they get a loan.
· No title search, assuming they bought the home and a title search was done.
· Simplify the closing process to minimize cost, government pays 100% or have the banks cover it.
· All loans must be done through the banks, can not be resold by the banks for a period of 5 years.
While I know there might be issues this seems to address the two main issues facing our country from the economic point of view. I wish you well in your efforts.
Please let me know if you need any clarification of this thought process.
Larry
I am going to piss off a lot of people, but I don’t care. It is kind of the same response you get when you tell an addict that they have made bad choices. “but everybody around me were making the same choice.” If you are in a mortgage you can’t afford, it is because you were irresponsible. That is not a disputable fact. However, everybody wants to make “responsibility” a relative figure. It is not. If I should go belly up and be unable to afford my mortgage, well then in the end I was irresponsible. In nature they call that “dead”. In the US we call them “victims”
While reading Thomas Friedman's book "Hot, Flat, and Crowded" with CNN on in the background, it struck me that I've heard a number of reporters repeat teh phrase: "The campaign is over, and now it's time to govern."Not to put too fine a point on it, but, as the saying goes, "What planet are they from?"; the election campaign is over, but the campaign to maintain electoral support never ends.This is very closely tied in with the necessity to "green" America for the following reason: given that it is both well-known, and well-documented, that terrorism is funded by oil revenues (often called "petrodollars", I cannot comprehend why we, the American people, are not being provuided with public-service messages clearly and simply illustrating not only teh facts recarding that funding, but also, the fact that, when the CAFE standards were eliminated in the 1980's, that alone directly led to the US wasting as much oil as optimistic estimates say is located beneath ANWAR. In our rush to absolve ourselves of any and all responsibility, we as a people and government have long deluded ourselves that buying gas-guzzling SUVs and energy-wasting homes was a matter of "freedom", when it has, in fact, been the major vehicle for funding attempts to eliminate our true freedom.President Obama has ntoed that we have an economic struggle ahead of us, and he has intimated that energy-independence is both an economic issue and a national security issue. I do not think, however, that either aspect has at all been sufficiently communicated to the populace, not by a long shot. Perhaps we have become so sensitized to the mere mention of the word "propaganda" that we've allowed small minds to convince us the airwaves belong exclusively to commercial advertising (with snippets of programing squeezed in-between to keep us watchign the advertising). If this is so, then some improtant lessons from history have been either ignored, or deliberately swept under the proverbial carpet. I think it is not merely a "good idea", but rather, imperative that the oil-terrorism connection be communicated to the American people, and to all people in the West. The potential tyranny of energy has been well-illoustrated by Russia's having plunged Europeans into an icebath, so to speak, by cutting off the flow of natural gas. We, as a people, must either return to the realization that it is not the size of one's car or the square-footage of one's home that gives life value and makes it worth living; to reject that realization will mean that, by pursuing the Madison Avenue illusion of freedom as "purchasing choice", we will sell our true freedom to petrofascists.
Over 20 humans and 3 dogs met the first Saturday of February to talk about the Obama Administration's American Recovery and Reinvestment Act, at that time known as the economic recovery plan.
fixing the economy is like our getting our new puppy. you get an older one to help entertain the new guy. she takes off gets hit and you gotta pay the vet bills. Plus all the normal puppy work.But now you're obligated, so bear down and learn to enjoy it. No turning back. It'll get better. So come see our new dogs, and we'll watch barack.Most People are talking about shooting for noon. and hanging out for an hour or two. my original idea was an open house, but maybe that defeats the purpose of networking between y'all. Anyway i'm excited to network. My ideas on the stimulus plan line up with Obamas call to winterize homes. I'm into energy policy, This seems like this is a good way to flex this Organizing for America system and see if it works.
fixing the economy is like our getting our new puppy. you get an older one to help entertain the new guy. she takes off gets hit and you gotta pay the vet bills. Plus all the normal puppy work.But now you're obligated, so bear down and learn to enjoy it. No turning back. It'll get better. So come see our new dogs, and we'll watch barack.
Most People are talking about shooting for noon. and hanging out for an hour or two. my original idea was an open house, but maybe that defeats the purpose of networking between y'all. Anyway i'm excited to network. My ideas on the stimulus plan line up with Obamas call to winterize homes. I'm into energy policy, This seems like this is a good way to flex this Organizing for America system and see if it works.
Our host, Tod, started us out by playing Governor Tim Kaine Answers Economic Recovery Questions video. The next few hours we spent talking issues important to Silicon Valley in specific and America in general.A couple of the action items we took away was to contact (e-mail, phone, snail mail) our US Congress representatives and other influential congress people in other states.We could focus on whatever topics interested us most but the main goal was to encourage them to support the stimulus bill. Most non wealthy people can afford to wait out the bad economy without work from our government.
Below are pictures of some human participants and a couple dogs. The long haired Dachshund puppy was the host dog and the black terrier, Culo, was the visitor dog.The meeting ended with a homemade berry and oatmeal dish, salad and pulled pork. A very nice Mountain View CA meeting all around.
If you are interested in finding out what the administration is providing to the American public on the "Economic Recovery" please watch this video.
http://my.barackobama.com/page/community/post/obamaforamerica/gGx23L
In our small group discussion, we spoke of the importance of www.recovery.com to the development of public trust. If the information is current, detailed and adequate, it will go a long way toward convincing the American public that its tax funds are being spent productively. Further, citizens will begin to believe that the bleeding will stop in the near term and that recovery is possible.
Rule One: Don’t rush! The bill must be airtight and bullet-proof far into the future:
I realize there is great urgency to get this bill passed as soon as possible since each month we corkscrew deeper into an ever expanding economic vacuum. However, rushing to push an ill-conceived plan out the door is a guaranteed exercise in futility. What is the point of rushing to get a stimulus package passed by the Senate if the provisions of the bill won’t be implemented until well into the future, and even then may not be effective? We really need to take the time to get the composition and timing of the bill’s provisions right, even if it takes a few extra weeks, or even a month to do so. Not only will we pay a heavy price in terms of failing to right our upended economy if we don't produce an airtight and bullet-proof plan, we will pay a dear price politically. Let's keep our heads.
The delivered bill should have a solid singularity of purpose with the goal of job creation, either through increased consumer spending or direct investment in government sponsored projects. The goal shouldn't be simply “get a bill passed within the next two weeks comprised of previously authorized, but as yet unfunded, programs.” The only other related consideration should be to promote job creation in sustainable, environmentally friendly ways wherever possible.
Last week I attended Chapman University’s 2009 Economic Forecast breakfast, where Dr. Esmail Adibi gave the 10th annual Economic Outlook for the US and Southern California. His basic description of what’s going on can be summarized as an ever increasing circular pattern we have become trapped in:
Important note: Consumer spending is 70% of GDP
A caution about tax cuts: Darren Gersh, Washington correspondent for PBS’s Nightly Business Report made a good point about cutting taxes. He said, “Republicans want to see more tax cuts added to the program, although Congressional tax writers say the earliest the Treasury could adjust tax withholding tables would be June 2009. Economists at Macroeconomic Advisors believe families would save roughly 40 cents out of every dollar they receive in tax cuts, as consumers struggle with a deep recession.”
The building of infrastructure should look towards technology of the future, especially in terms of energy. For example, the building of solar and wind energy transmission lines comes to mind as a much needed electricity distribution component that could employ many people. This could be for solar thermal energy plants in the desert or wind farms all across the country.
Incentives to buy certain things (like energy efficient cars, home improvement projects) should be included in the plan. This will encourage people to actually spend money in the economy to offset the urge to simply save any tax cuts or other stimulus plan cash benefits they receive.
Lastly, I would like to emphasize that we should keep the plan as simple as possible and not try to cover too much ground. We should definitely include some "sure things" that we can point to as successes down the road when the opposition tries to obstruct our efforts.
The bottom line is that we want this plan to have some tangible results, both within six months and in the long-term. We need this plan to succeed. It may not be the silver bullet for all of our economic woes, (which scale to great heights), but it should be something that we can refer to as having had a positive, major impact on getting out of this deep recession.
Times are getting sketchy, and CEOs of big corporations are asking the government for bailouts.
In my mind, I strongly believe that the economy needs to be introduced to a new industry.
If marijuana is legalized on a national level it can be widely distributed, ending underground operation, lowering crime rates, and the public does need something to chill them out once in a while.
Not only that, it can stimulate the economy by giving more jobs and circulate more money.
An industry that is based on a consumable plant means more growth and diversity in the economy.
The strongest economy is a diverse economy.It can also alleviate the dot com influence if the United States were to become a large export of a consumable plant. The economy will constantly have a demand for consumables.
It's time to end the generations of marijuana prohibition.
It would be interesting to know what percent of the AIG "loss" is attributed to the "naked CDS" contracts, the ones where the buyers of insurance where speculators with no real exposure to the CDS reference debt? In another words, how much of its "loss" is simply a gambling paper "loss" due to their contractual obligation to pay the CDS speculators their gambling "wins"?
..... Contact: http://Alex.Karoub@gmail.com
WHO IS THAT GUY BARACK OBAMA? HE IS US.We have made historic headway by together pointing our nation in the right directions. After decades, we have America focused on the issues of fundamental importance. Now, each of us acting in concert can together move our country to lead the world to the fruitfulness of moral goodness. I have no doubts about my abilities and the abilities of fellow Americans to work smart and hard to achieve these goals.Barack Obama has the visions, leadership, and integrity for us to correct and redirect our country to once again lead the world for the fruitions of good. Let's closely listen, learn, and move forward based on that which we know deep inside is good and which we can validate with our hearts. I hope that those who had but a few reasons to support Obama, look further into the other issues more deeply. I found the more I explored, studied, and listened to Obama the more I found us in agreement. The couple of issues that I did not have depth of knowledge of, quickly became obvious in need. This was unusual for me since I have always refused to be any kind of a follower, and still am not. I find Obama to be a deep thinker who is articulate and inspirational; and, of most fundamental importance, Obama makes excellent moral sense.Hopefully, our country has learned lessons from the past of mistakenly following leadership blindly, as was done with Nixon and Bush. There are leaders who are simply in it for themselves and will cater to individuals or groups in order to grab for their own benefit. Corrupt and bad leaders hide at all levels. This is especially true in city government as well as county and state government. The corrupt deals of politicians need to be exposed, and those responsible need to be weeded out in the coming local elections. Others need to be investigated by law enforcement and be prosecuted for illegal dealings; for deals they often make for their hidden personal agendas. Let’s look at the bad experiences of the past as bitter medicines, let’s eliminate the need for such bad medicine in the future. Let us use what we know is good to go forward.I believe we have chosen wisely, not by greed and not by misguided retaliatory anger. I believe this time our country has chosen with open eyes, with each of us listening and examining our choice of leadership closely, driven and validated by our hearts.I hope we can continue to make our efforts even more inclusive (in many more ways than I touch on here). Far right republicans will be stubborn to change, but we will need to include them to change if we are to succeed. Sure a few more will leave our country, but that is not the American way. No, we really don't need their false fronts of power, money, insider knowledge, or other trappings that they have taught many to 'respect?'. Let's recruit as many as we can, that's the American way, evolving and changing together as one nation. Try to be understanding as we move forward; by better understanding each as individuals and people with various desires and needs we will find ways to reach out with friendship and have them join our causes of good.Be on the lookout, and root out bad leadership in government and business. Do not be intimidated by those who use the false fronts of power and give a false sense of security in order to lead. Be extra leery of those who say or imply ‘Trust me’; those who give a sense that they somehow omnipotently know better. No longer will Americans be dazzled by phony displays of brilliance or baffled by baloney. There are government aristocrats and business leaders who still believe in the old adage of: “If you can’t dazzle them with brilliance, then baffle em with bullshit”. We can embrace complexity by demanding true, fundamental, and understandable explanations. We can root out falsehoods by not accepting double speak. We as Americans know how to grow ourselves by first believing in ourselves. Don’t be a follower. Don’t be a follower of followers.However, when we find leaders who are good; a leader that thinks, speaks, and acts from their heart; one that is honest, has integrity, and leads by sincere examples; then we need to in a big way, join them, support them, and promote their causes of good. From much research, investigation, and scrutiny, I believe Barack Obama is such a person. I hope we search for and find many more who are similar, who we can add to service at all levels of government. We need to add/replace leaders in business with ones that have honesty, integrity, and show quality in leadership. We need more people in leadership roles who are moral, like Barack Obama.Remember, we are not fighting a battle, we are the artisans and sculptors of the future for ourselves and generations to come. Rarely do societies have opportunities to make such dramatic moves forward as we now have in this opportunity of today. Take pride and practice in being inclusive as we stride forward. In moving forward, create opportunity not only for yourself, but also for all. Hope is a wonderful thing to behold; but without opportunity, hope can become but a dream never achievable. We can, will, and must, create opportunity.In the coming year I hope that we do not lose our spiritedness, but instead continue to build and make headway. I hope we all continue our campaign for change in government and business. We will succeed in moving forward once again, it will take much effort and good oversight on the part of each of us. We will make great strides in the months and years ahead in order to achieve the fruitions of good. Let's keep our enthusiasm progressing through these coming toughest of times. Let us use the light of goodness and love to motivate us with historic momentum.I have chosen Barack Obama because he best represents my deepest beliefs in America. Please take time to read the issues that Barack Obama has published on this website. Also, give your attention to see how he leads us to move our nation forward in the time ahead. Most importantly, be part of America's great future, participate in the greatness that together we will make. Participate!We will each and all flourish, if we think, speak, and act, by using the love in our hearts.
Your reply is welcome. Contact: Alex.Karoub@gmail.com
If you think this race is won, two words: New Hampshire. Go to http://www.barackobama.com to get involved right now. We have to keep running through the finish line. It's too important to take anything for granted. It's too important to let up now. The future you seek. - The future we seek together. - The future we seek for our children. It's too important to let up now. We have to keep running through the finish line.! For the change we need. Barack Obama and Joe Biden 2008 ----------------------------------------
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mccain obama palin us election presidential 2008 change America economic crisis joe plumber Debate Ohio Florida New Hampshire Clinton democrat republican Indiana Missouri Colorado
TAX INCENTIVES:As Mr. Obama is looking for options for stimulating the economy, he may consider a one-time capital gains loss increase. A lot of retirees and other low to mid income people may have lost more than ever in their stocks, IRAs, mutual funds or other investment instruments managed by Wall Street.
The current capital gains loss is capped at $3000. This makes sense because obviously it protects the government from an economic crisis but it doesn't protect individuals. In times like these, we need to understand the crisis we're in and help any way we can.
So, as you consider other options, I hope you'll consider this option. I am sure it will help people recover from a very, very difficult year. ($10,000 - $15,000 seems like a good range)
Good Luck,
Gary Charles PickPresident / CEOAmerican Digital Networks; ConnectusAnnapolis, Maryland 410-292-6323
I told you the 140 Billion Stimulus package would not work when I wrote this blog right after it was approved. Gues what, the 700 Billion will not work either if it is not done correctly. I will tell you why in my next blog. In any case, please review this add.
McCain + America = Depression
In John McCain speech he admitted that he didn’t no about the economy. Okay, I accept that and I am going to show you why a vote for Senator John McCain will send America into the worse depression since 1929. First, let’s look at what makes a healthy economy. Economic Growth – this occurs with the expansion of business and industry, which creates jobs. When people are working they buy homes, cars, appliances and other durable goods. As the demand for these products increase there is also an increase in the demand for the people who create, build or manufacture those products and provide the associated services to maintain those products - Economics 101. Senator John McCain’s response to the economy is to just to let it happen. That means he will allow the economy to hit bottom. Why do you suppose that is? It could be that he doesn’t care about the issues that facing us as American people or this nation. I think he does care but he really just doesn’t know. Perhaps his experiences just haven’t expanded his breath of knowledge to allow him to gain some thoughtful insight about the subject of economics. Who does that remind you of? We know that Senator John McCain will continue the fund the war effort. However, the war has not and will not have the same effect on the economy as world II did in the 1940 because of two reasons. First the corporate outsourcing strategies move employment opportunities offshore. Secondly another little thing called the “Marginal Rate of Technical Substitution” (MRTS). Oops we slipped into a more advance theory of economics. Don’t worry Senator John McCain, I’ll keep it simple and I promise there will be no graphs. Simply put, the way we manufacture products, equipment and machinery today has changed significantly since 1940. When the US entered World War II in December of 1941, tens of thousands of jobs were created for Americans. Men went to war and women went to work in factories. Perhaps you can recall stories about Roses the riveter. However, today Roses has been replaced by Robot the riveter. The more automation and robotic translates into less manufacturing jobs. Less jobs means less taxpayers, less taxpayers equal less revenue for the government. Did you get that John? This technical substitution is okay because jobs are created in other areas – high-tech jobs, software development and engineering. The economy can absorb and transaction displaced workers over a reasonable period of time as long as the new jobs stay here in America. That is why Senator Barack Obama wants to end tax credits for companies that ship jobs overseas. When corporations adopt strategies to sell products and other goods and services to Americans but move the support functions and technical jobs offshore the net result is less American taxpayers. In effect, the money generated from the sale of the product here in the US is use to pay people that are employed in other countries boosting their economy. When we create helpdesk support, call center, computer programming or manufacturing job in another countries, there are consequently fewer American taxpayers, which also translates into less revenue for the both the federal and local government. Senator McCain, please forgive me, I am really trying to make this simple for you and your supporters but as you can see, economic can become a little challenging. In any case, stay with me and I will continue to connect the dots so you can see why DOING NOTHING IS NOT AN OPTION! The less revenue the government has, the less government expenditures, the less support for the states, the less likely to provide grants, loans and other financial services necessary to support business development, stimulate Americas economy and the fewer jobs to spur economic expansion and growth. You see Senator McCain, your wealthy supporters want you to continue the war effort because they can continue to obtain the closed, no bid contracts and collect billions of dollars while the rest of the nations suffers. This is the Military Industrial Complex at full throttle. They get capital (tax dollars), expand their business offshore and jobs are loss in America. All funded with American taxpayer dollars. The Republicans are convinced that supply side economics is the answer and they fooled the American public into thinking that greed is good. As a result, the money doesn’t trickle down into the economy as the supply siders would suggest because greedy people get as much as they can and can as much as the get. The money is moved offshore and saved in offshore accounts. The money never finds it way back to the American economy. The economy must be repaired from the bottom up. Because the only thing that goes up and doesn’t come down is MONEY. I know you are saying “we Republicans love the American people”, we just approved a 140 billion dollar economic stimulus package. Now Senator, before you get too excited, let me explain to you why that economic plan will not work. The net result of this action will only deplete the budget and make it harder for the next president to bring the country out of the recession. Perhaps you are still not getting it. I have an idea, you are a military man, and I’ll use a simple but logical military analogy. Think of it this way. Let’s say we have a war with terrorist in Afghanistan. Would you spread your troops all over Europe and the Middle East or would you concentrate your troops in strategic positions along the Afghanistan borders? On second thought, considering the current strategy we are using to fighting the war with Iraq while the terrorists fortify positions in Afghanistan and Pakistan, maybe that is not a good question. Let me suggest that the later would be the best strategy and I think you’ll agree. If the terrorists are in Afghanistan, we have a greater opportunity to get them if we focus the troops on Afghanistan where the terrorist are. Now, let’s look at the economy and draw from the same military analogy. Considering the fact the we have a serious housing crisis and a lack of employment opportunities, doesn’t it make sense to use that 140 billion dollars to support the homeowners and create new employment opportunities or just give everybody in America 300 to 600 dollars? I hope you find that last question rhetorical. This strategy would obviously spreads your troops; I mean your money too thin. The 140 billion dollars could have been used to restructure current mortgages in a manner that would help the banks, the mortgage companies and the homeowners while protecting jobs in the process, a quadruple whammy. Instead, it’s a 140 billion dollars leverage opportunity gone. When the American public receives their tax rebate, they will either spend it on fuel or paying a couple of bills and nothing else will change. You see Senator McCain, there’s a big different between economic stimuli, economic expansion and economic growth. I wrote about this stuff in my new book and I promise to publish it before the political conventions this summer. In any case, apparently your last trip to the Middle East certainly lacked presidential luster to say the least. Moreover, your statement regarding your plans for the economy demonstrates a dismal lacks of knowledge about an issue that is critically important to the American people and the long-term stability of this nation. So then, with that said, I hope you will do the responsible and leave the war and the issues facing this economy to a person that does understand the economy. Someone like Senator Barrack Obama! If you do nothing about the economy and continue the foreign polices of the current administration, the American economy will spiral into a depression and the economic fallout will be devastating. THAT IS WHY SENATOR BARACK OBAMA AND THE AMERICAN PEOPLE ARE SCREAMING FOR CHANGE. It won’t matter who endorses you Senator McCain because if they are not wealthy or not working the “military industrial complex” in full throttle like some of your wealthy supporter then I am afraid they are not very smarter. I will leave you with one other point. I trust you are aware of the situation in the State of California. Due to recent budget cuts the Governor has found it necessary to layoff teachers. Teaching is considering one of the most stable occupations in the nation. When we start laying them off, it’s the preverbal handwriting on the wall that a depression is looming. Fewer teachers mean fewer taxpayers and you know the rests. Why do you suppose California is terminating teachers? Do you think it may have something to with that seventy billion dollar tax cut to the wealthy? Partly but is has more to do with the “laissez faire” hands off policy applied to the American children and taxpayers in our nation. I know that statement will draw criticism but be for you do, just try to look at thing for the point of view of a simple American like me. California has a Republican Governor and America has a Republican President. It stands to reason that the governor would request funding support from the president before terminating teachers, wouldn’t you agree? Assuming we all really care about our nation, employment, teachers and the children and all that talk about “No child lift behind” wasn’t just a bunch of political rhetoric. The problem I am having is that JP Morgan Chase didn’t have a problem getting federal government support to back its 30 billion dollar acquisition of Bear Sterns. I recall similar bailout program for the loan industry and defunct Airlines but no help the save the jobs of those California teachers. You see Senator McCain to be the president of the United States you simply must understand something about economics. If you don’t and your supporters succeed at getting you elected, as sure as there are star in the sky this nation will see the worse depression it has ever know. This is not the type of crisis you can delegate, understanding the economy is absolutely imperative.
