Our government leaders are planning to “invest” about $1 TRILLION in stimulus this year to get our dog of an economy to sit up and perform tricks. Let’s hope it doesn’t just roll over and play dead!
They think they can borrow this money and figure out where to spend it to turn things around. I guess they are really brilliant.
Heck, all the geniuses on Wall Street, dedicated to making smart investments, couldn’t figure out how to keep from losing their shirts last year. We already knew all the political experts couldn’t figure out who’d win the election! Heck, they were not even close in guessing who the candidates would be. And we previously learned that the military experts couldn’t recognize the difference between a “quick and easy” war and a $600B five year struggle. We’ve already accepted that the experts at CIA, NSA, FBI and all the intelligence agencies of the western world couldn’t tell the difference between a “Slam Dunk” and a Weapon of Mass Destruction. But, we never imagined that the 550 or so politicians we sent to Washington are so much more brilliant than all of these so-called “experts” combined! We’ve got nothing to worry about, right?!
What is a TRILLION anyway? Isn’t that just “the new Billion”?
Well, according to the Social Security Trustee’s report, $1T is about what was spent in 2007 for EVERYONE on social security retirement, plus disability, plus all their hospital care plus the federal portions of Medicare parts B & D. It is also better than 80% of the total payroll taxes collected from the 165 MILLION people who worked in this country that year.
Here is a suggestion: Instead of spending all the time it takes for Congress to figure out where to spend that trillion dollars, why don’t they simply take that borrowed money and “invest” it in paying all the Social Security benefits for this year. Then, simply tell all the employers and self-employed people out there… all 165 million of us… to simply forget about FICA taxes for the rest of the year!
How much faster can they get the stimulus into the hands of people than to simply not take it from them in the first place?
The way I figure it, each and every working person would have about $7500 more to “invest” as THEY see fit.
And you know, I trust the judgment of the 165 million of us that earn a living better than I trust the decision making (let alone morality) of the pompous 550 or so in Washington. Since those politicians generally maintain an approval rating slightly below that of used car salesmen, I think the general public agrees with me about who should decide how to spend this money.
What do you think?