February 13, 2009 – It’s Friday the 13th and we might live to see Saturday the 14th. Washington is gearing up to loosen a FLOOD of money into our economy. But will it work to stimulate? Not right away at least but as one pundit put it (can’t remember the name – old guy problem) lending will not be easier because the government will be competing for the available dollars. There are no “stimulating tax cuts”. So the longer term picture is hyper inflation and sickness continued in the economy. The part about competition for loans does not include inflationary printing of money. Folks making the presses, paper, ink, etc., will benefit. Let’s see who else makes out under this stimulation. All government, government workers, and government contractors will benefit from the FLOOD of money because no government will be forced to cut back spending. Our fearless leader Charlie Crist wants to slop and the federal trough too.But the most egregious flaws in the Obama Administration are the campaign promises broken. I’ll bet some of you thought he was making promises he would keep, like a middle class tax cut. There was one in a payroll tax holiday but it evaporated. I harken back to Bill Clinton in ’92 when he said he was going to cut taxes and instead raised them in ‘93. Those of you who voted for Clinton fell for that one too. Another offense is against the promise I heard about “no more corporate welfare”. In my local news paper this AM on the front page is a “last minute addition” to the stimulus of a $3.2 billion tax break for GM. Is this the corporate welfare and/or “bailout” in advance without GM having to finish their scrambling to prove they are viable BEFORE getting a bailout next week or is this in ADDITION TO the bailout they are coming back for next week? Whew! So you say that’s not corporate welfare, it’s just payback to the UAW for their help. I just wonder if that evil CEO is going to get his cut, along with management and white collar workers BEFORE the UAW gets theirs? Don’t you?
In another violation of promises, our President promised to put legislation up on the web for five days before signing it in an effort to improve transparency. It appears he doesn’t care about that at all since everything is moving at light speed to his signature, even things that are not urgent like SCHIP.
So my point is twofold. First did a candidate for President lie during the campaign and if he did, is that acceptable? If these examples weren’t lies, what were they? Misstatements? Second and most important, what does this flurry of legislation do to the last great representative republic? Will we be great if we continue to follow leaders who deceive? Will we be in worse shape on the next Friday the 13th which is one month from today?
Retired Naval Officer
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