Obama’s pork-spending stimulus plan is designed for failure and a meager attempt to set the economy straight. Currently, America is in an economic recession that Obama plans to fix by passing a bill distributing $787 billion to various funds. This stimulus plan is based off the Keynesian method, which is solving economic downturns with “large infusions of government stimulus.” (1) Although in attempt to give the common person more pocket money for spending, this plan is ultimately going to increase taxation and interest rates. Where exactly is this $787 billion stimulus coming from? With America already trillions in debt, this plan simply does not seem reasonable without taxation.
Obama also stated that he will “put money in the pockets of the American people, create new jobs, and invest in our future.” (2) Obama has claimed that his plan will open up over 2.5 million jobs. But my question is how does one produce that many jobs? Artificial jobs will not stimulate the economy because there will be no productivity. In order for people to have successful long-term jobs, they need to be producing a good or service that people want. You can’t just invent 2.5 millions jobs out of thin air. As well as this, Obama’s statement that he will put money in the pockets of the American people is questionable. How is Obama to put money in the pockets of Americans without taking it out of others?
Another shocking unmoral issue in the plan deals with earmarks. “President Obama vowed to be anti earmarks during his election campaigns” (3) although this bill proves otherwise. The bill itself is roughly 1, 400 pages long, which includes thousands of earmarks. This is clearly wrong and intolerable. Before any bill should be approved, the earmarks should be weeded out. Our taxes are going to support this bill that includes over “9000 pet projects recommended by both the Democrats and the Republicans together.” (4) This is appalling. If it weren’t for the thousands of earmarks, the plan would be much lower.
(1) http://www.cato.org/pub_display.php?pub_id=9931
(2) http://lateline.muzi.net/news/ll/english/10086010.shtml
(3) http://www.8000credit.org/150/
(4) http://www.8000credit.org/150/
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