Okay, yesterday was fun but now I need to roll up my sleeves and do a little swinging for sanity with regards to this Stimulus Bill.
In case you have been hiding under a rock, the economy is shedding jobs faster than hair jumping from the top of my head. The current economic indicators assure us of double digit unemployment with projections reaching near Depression era levels. For those of you unfamiliar with those numbers: 1 in 5 and quite possibly 1 in 4 will not have a job by the end of 2010. The foremost experts on the Depression era economics are now sitting at the top of the Treasury food chain (this is so bad that tax cheating scum get a free pass based on skill set versus current problem).
President Obama is attacking the crisis in what I would like to call a four pronged attack:
1) The first prong of our economic offensive was and is the stabilization of the banking industry. The US government injected nearly $400B dollars into the banking industry to prevent the wholesale collapse of major banks. While many can certainly argue about the socialistic, communistic and fascist elements of this move by our government; and others could decry the mismanagement of the effort - bottom line folks, it has worked. The banks are still failing but at a rate far more manageable than before. Please note, this does not solve the underlying problems, but rather gives us some breathing room to work on how best to resolved these more significant and little understood issues.
2) The second prong of the economic offensive is aimed squarely at the American people. The so called "Stimulus Bill" is designed specifically at getting the American people back to work. With over three million jobs lost in the last eighteen months, President Obama and Congress are working to insure that people can get back up and provide for themselves and their family. Again this trillion dollar injection of capital will not resolve any problem at all, but like a jump in a car where the battery has gone dead, it will keep the car moving toward help.
3) The third prong of the economic offensive is aimed squarely at the underlying economic problems. The particulars of this plan are scheduled to be released later this week, so my apologies for not being educated on those elements yet. However, speculating it is my belief that the Treasury is going to buy up all of the toxic assets from banks (or a goodly portion of them). This will allow banks to regain their positive cash flow and hopefully domestic markets will recover rapidly.
4) The fourth prong of the economic offensive is the logical conclusion of this mess: regulations, litigation, and a few people sent to jail. I am not going to discuss this too much, as it would all be speculative at this juncture.
There you go, the economic war succinctly summed up for you in hopes that you can push that I believe button and start helping us out of this problem.
To the dear old Republicans and Democrats who are trying desperately to stall, obfuscate, and otherwise negotiate the economic war efforts into ineffectual puff because you think it will put your party back in power in 2010, you are going to hell. In the event that you have no idea what I am talking about, read this and feel disgusted. We have a great many people suffering, we are going to have a heck of a lot more, and efforts by you for the purposes of political gain at the expense of American families is odious at best. It will not take long for people to wake up from their slumber, start equating your politicking with "well, just let them eat cake" comments, and trust me, it doesn't end well.
To those Republicans and Democrats who are working together to try and provide the best solution - you may not feel it now, but you are doing the right thing. Hang in there, and know that we are counting on you to do the right thing.
Finally, Rush, I am just a minor player in the blogging world, but please hear my plea: please cut out the self indulgence, plays for power, and help the American people. Find that good person that we know is there, and let him have that microphone just for a day. For just one moment, look past the politics and see the suffering.
Peace.
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