Stimulus spending

Feb 052009
 

Pocket Obama (page 47):

My faith is one that admits some doubt

But not, apparently, about his huge stimulus package. News item:

President Obama abruptly changed tactics Wednesday in his bid to revive the economy, setting aside his bipartisan stance and pointedly blaming Republicans for demanding what he cast as discredited “piecemeal measures.”

Related news article: “Is President Barak Obama still Smoking“?

Feb 032009
 

I wish President Obama had been thinking of his domestic policies when in his inaugural address he spoke in favor of “the tempering qualities of humility and restraint.”

They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

Humility and restraint are two words that will never apply to the huge pork package sometimes known as a stimulus plan. Unfortunately Obama has the the same hubris with which George W. Bush to war in Iraq, except that this time, it’s taking us to war on our domestic economy.

I see that Obama is desperately trying to get some Republicans to sign on, too, so he can have someone to blame for the failures of his plan. It worked for George W. Bush — in recent years his followers kept pointing to Bush’s congressional critics, pointing out how it was a war they had voted in favor of. So I can see why Obama wants to try the same ploy the other way around.

Feb 022009
 

Or, “Stimulus plan explained.”

I’ve been having trouble figuring out how borrowing massive amounts of money is going to solve a problem caused by too much lending of easy money, with the risks having been underwritten by the federal government.

This morning I got an e-mail that explains how the stimulus plan really works. The subject line was: “Convert Your Car To Run On WATER!!” It contained the following valuable information.

Did you know that you can convert your car to a water-burning car? You can run your car on water, supplemental to gasoline, to increase your car’s fuel efficiency and reduce your fuel costs significantly.

  • Works on gas or diesel powered cars, vans, trucks, and SUVs. (Not tested on hybrids)
    Your car will become at least 40% more fuel efficient and produce cleaner emissions.
  • Convert your car for the lowest price. Similar conversion kits cost up to $600 and up!
    Works with plain tap water. No need for distilled water or special water additives!
  • We’ve simplified the process. The steps are easy, and the materials are affordable.

Our easy conversion guide will show you how to use electricity from your car’s battery to separate water into a gas called HHO (2 Hydrogen + 1 Oxygen). HHO, also called Brown’s Gas or Hydroxy, burns smoothly and provides significant energy – while the end product is just H2O! HHO provides the atomic power of Hydrogen, while maintaining the stability of water.

Jan 292009
 

President Obama said, “We don’t have a moment to spare.”

I presume what he meant was that if the House waited a day longer, people might get more information and realize the big stimulus is largely a big greedfest. They might at least want it cleaned up a little.

But he’s following in the grand footsteps of President George W. Bush who urged quick action on his big Patriot Acts. The ACLU and conservative Republicans wanted to slow down and tune the acts to protect civil liberties. But George W. Bush would have none of it, for much the same reason that Barak Obama does not want a delay in his Stimulus/Pork package.

George Will explains the need for speed this way. “When on thin ice, move quickly.”

Jan 292009
 

I rarely listen to my hero Rush Limbaugh any more. He’s too whiney, too much invested in Republicans in general and Bush in particular, too dumb and ignorant on science issues and many others, and too fixated on racial issues. He’s still my hero, but he’s not worth my valuable listening time (to say nothing of the time in the car when I prefer to think quietly rather than listen to anything at all).

His article in today’s WSJ is brilliant, though. And President Obama asked for it by his snidely sophomoric reference to Rush when he met with Congressional Republicans a few days ago.

Fifty-three percent of American voters voted for Barack Obama; 46% voted for John McCain, and 1% voted for wackos. Give that 1% to President Obama. Let’s say the vote was 54% to 46%. As a way to bring the country together and at the same time determine the most effective way to deal with recessions, under the Obama-Limbaugh Stimulus Plan of 2009: 54% of the $900 billion — $486 billion — will be spent on infrastructure and pork as defined by Mr. Obama and the Democrats; 46% — $414 billion — will be directed toward tax cuts, as determined by me.

Then we compare. We see which stimulus actually works. This is bipartisanship! It would satisfy the American people’s wishes, as polls currently note; and it would also serve as a measurable test as to which approach best stimulates job growth….

The economic crisis is an opportunity to unify people, if we set aside the politics. The leader of the Democrats and the leader of the Republicans (me, according to Mr. Obama) can get it done. This will have the overwhelming support of the American people. Let’s stop the acrimony. Let’s start solving our problems, together. Why wait one more day?

One point I may as well disagree with, since I’m part of that 1% that he’s giving to President Obama. It’s not that 1% of the population voted for wackos in the last election. 100% of them did. But I’ll go along with this plan.

Jan 262009
 

I posted this over at Real Clear Politics, in response to an article by Robert Kuttner titled, “It’s Show Time for Obama“:

That’s a jocular comment when Obama says, “I won?” The leader of the free world can offer no better argument than the iron fist? It doesn’t make him come across like the kind of person who wants to heal divisions. In his inaugural address he said, “we have chosen … unity of purpose over conflict and discord.” Maybe his type of unity is achieved by shutting down dissent, which is what he seemed to be doing wrt Cantor.

Jan 262009
 

Less than a week after the inauguration, John Kerry and Kent Conrad choose fear over hope. Their article in Monday’s WSJ is not unlike the fear-mongering that sent us to war in Iraq and which established the USA Patriot Acts that gave us the Homeland Security department.

An extra nice touch is the way they blame the Bush administration for the TARP program which Congressional Democrats passed only after they bribed Republicans with extra pork to go along. They blame the TARP program for a list of items that will be bad about the new stimulus program, too, plus suggest a few new items that will make their new stimulus program even worse than TARP.

Unfortunately, the Bush administration failed to fix the problems in our financial system, refused to help homeowners, and didn’t pass stimulus measures to create jobs in order to lay the foundation for stronger economic growth in the future. Instead, it handed out large sums to struggling financial institutions under TARP in order to prevent a complete financial collapse. But it did so without consistency, without adequate transparency and accountability, and without restoring the credit availability that our economy desperately needs.

Jan 192009
 

Russell Roberts at Cafe Hayek is thinking of a giant wiki where we can keep track of all the trickles in the Democrats’ trickle-down stimulus plan.

Wouldn’t it be great to keep track of how long it takes the money to get spent, what actually happens on the ground and so on? There’s no way a reporter can follow it. Or an economist. So let’s use the wisdom of crowds, the many-eyeball approach.

URL

Jan 192009
 

I’m glad Star Parker said tax benefits instead of tax cuts:

His economic stimulus plan has large government expenditures to please Democrats and tax benefits to please Republicans.

Because if there is a single tax cut in Obama’s proposals, I haven’t yet heard about it. (And why any of it would please Republicans is a mystery to me.)