Wednesday, February 18, 2009

Gerson thinks the stimulus bill was necessary

Michael Gerson opined in Washington Post Its flaws are gaudily obvious.

I am happy you noticed.
The bill was written in monopartisan secrecy,
The Dems must have figured Obama's bubble would burst almost immediately, and they had to grab for all they could, not realizing they had four years to screw the country.
weighed down by irrelevant spending,
Most of it only stimulates left wing interest groups who donate to Democratic campaigns.
considered in a rushed, uninformed debate and passed on a virtually party-line vote. The law contains provisions that seem to weaken welfare reform
Make people dependent on government and not themselves.
and invite trade disputes. And it adds a massive burden of debt to existing massive entitlement obligations requiring massive borrowing from international sources
Who are not likely to loan it to us, and if they do, would we rather be owned ny the Chinese or the Saudis? And do we want our children or our grandchildren to pay for the money we are wasting today.
-- or, if such credit dries up, the massive printing of money to buy these bonds, leading to inflation.
Which will hurt seniors on a fixed income.
But while the legislation was deeply flawed, there was little alternative to action.
Other than doing nothing, which would have been the best choice.

1 comment:

Anonymous said...

Being selfish, I don't want to be a senior hurting because of mistakes made in the government. I do have a lot at stake and so do my children and grandchildren...ANON