As Washington begins to re-float the idea of another “stimulus,” USA Today advises: “Don’t just stand there – do nothing.”
As the economic recovery falters, pressure is mounting on policymakers to do something —anything — to boost growth, preferably before Election Day.
In response to this clamor for another short-term stimulus, here’s one piece of advice: Don’t just stand there — do nothing. More government borrowing and spending would accomplish little but provide lawmakers yet another rationale for delaying the day of reckoning.
But for now, with depression off the table and about 30% of the $814 billion stimulus still in the pipeline, it’s time for government to start following the lead of its people and businesses. Instead of passing a minor stimulus that would be almost meaningless in the context of global economic trends, Washington should focus on the big picture. The national debt stands at $13.4 trillion, or $104,000 for every U.S. household. And even that is just a prelude to the horrific numbers projected over the next two decades as the result of surging expenditures on health care and retirement.
Acting to slow the growth in benefit programs such as Social Security and Medicare would not only forestall economic Armageddon down the road, it also might actually be the best thing for the economy now. It would restore confidence among investors that the nation is not heading for a major credit crisis or a period of hyperinflation.
Stupid right-wing bumpkins like you you don’t really understand how the world works, do you?
You could just as easily have substituted “military spending/waste” for “benefit programs such as Social Security and Medicaire”. Why not? Is bankruptingamerica.org just another right wing think tank under the guise of a balanced view? How many billions have we wasted in Iraq and Afghanistan?
Instead of SPENDING more money on our roads, highways, ETC,ETC !!! NOT to mention ALL those VACATIONS and SPECIAL food Deliveries to get THEIR FAVORITE PIZZA 3 states away.The Government SHOULD give the MONEY to the CITIZENS of the U.S. That WILL STIMULATE the Economy.AND help everyone out ,There would not be people loosing there homes and for some their families do to losing their homes. GIVE THE MONEY TO THE LEGALLY AMERICAN BORN CITIZENS !!!!!!!!
I f people don’t work together, then the solution will take longer to achieve. I have paid into Social security for the 30 years I have been working and now you say I should not be intitled to it?
I agree, get rid of Medicare and have universal Health care. More people in the pot brings down the cost of medication.
Bring back the old tax rate for those making over 250k a year. Greed can be good for motivation, but bad because of selfishness. We are all in this together regardless if you think so or not. How do you cut taxes in a time of war…………..Great move Bush. I’m gonna put an addition on to my house while my job is cutting my hours……………And this site goes along with that……………Like I said GREED.
I agree with Jeremy………..Give us the money and watch how the economy grows………..
I also agree with Warren…………..
Several government-independent studies have shown that Social Security is solvent for the next 30 years. In other words, this is not an immediate problem. We need to focus on more immediate things. All you are concerned about is government spending,and while that might be an issue, you don’t really get to the fundamentals. The debt is due to the fact that tax cuts for the rich and the lowering of the tax base paid by the middle class took the funding out from programs. Those programs were conceived with that higher tax base in mind. In other words, we don’t make as much money as we dd a few years ago.
Also, the American middle class has been battered as far as jobs are concerned. The average wage is either lower or stagnant for most Americans. And then you throw in inflation and of course the tax base is lowered. The government stimulus is a demand side solution to correct problem that were caused by excessive supply-side policies. The government also needs more tax money from corporations and the wealthy, let them come forward and show some patriotism. We have fought in wars to protect America, and now it is time for America’s wealthy to do their part.
Corrporate America abandoning this country is the single biggest reason why this country is going down the toilet. The saddest thing is about is that nobody seems to notice it or talk about it. The CEO’s of these companies are laying this country to waste while they pocket billions of dollars off the backs of their cheap Asian labor, as our middle class citizens of this country get put on the endandered species list. Then Presidential Candidate Obama recognized the problem in one of his political ads but since taking office has focused his attention on trying to fix the results of the problem instead of focusing on the source of what is causing it. People, we need to wake up and turn this around !!!!!!!!!!!! This country is not going to survive with it’s people earning Wal-Mart wages !!!
I have been unemployed for 11 months and no closer to a job than I was 10 months ago. With that, I read about the economy beinG bad. You are forgetting that the people with the money (senate, house) get to make the rules we live by. At election time make sure the person you vote for has our countrys best interest in mind. These people are elected by us AMERICAN CITIZENS. I say fire all of them and start over, When our for fathers started AMERICA they had an idea of what they wanted in a country. They made it happen. Its not the poor and middle class hurting this great country its the wealthy not putting back to the country and people that help make them rich. Let the banks fail there will be another bank to take their place and maby not be so gready. What I dont understand is why there were not any arrests made during the bank and financial crisis that lead to this countrys greatest financial crisis. Instead of commiting suicide the rich ask to be bailed out. I’m not rich or wealthy but I need to be bailed out of debt. I paid my bills until NO MORE JOB. HELP .THE WORKING CLASS, or in this countrys case the not working class
problem,the first one wasn’t big enough