Obama to GOP leaders: Stop listening to Rush Limbaugh; Update: Rush responds

It would allow a majority of American voters to guarantee no taxes for themselves going forward. It would burden the private sector and put the public sector in permanent and firm control of the economy.

If people are this stupid to think that having Obama as President guarantee no taxes for themselves going forward then they deserve what they get. Having Obama’s “stimulus” pass will put the public sector in permanent and firm control of the economy. This I can guarantee millions if not tens of millions of folks – you will be unemployed, you will never get your job back. period. You will be on welfare for the rest of your lives. Paying nothing now will guarantee you will get nothing later. The Federal government cannot “employ” every person that has lost their job. Jobs losses will accelerate as Obama picks up steam. I have been a small business owner for almost 30 years. Everyone I know is shutting down and throwing in the towel. I have stopped paying myself and thus I am not paying any taxes. Is this what hope & change is? In one week Obama has shown his true self and I don’t know how much more change America can afford.

izoneguy on January 24, 2009 at 5:42 PM

Obama Stimulus: $1 Trillion, 600,000 Government Jobs and Few Media Questions

The words “economic stimulus” have a certain appeal to them because, after all, who wouldn’t want the U.S. economy to be stimulated?

“Well, do we really want to create 20 percent of the jobs in the public sector?” McConnell said. “That would be 600,000 new government jobs. That’s about the size of the post office workforce.”

“Governments cannot create but merely redirect,” Schiff wrote. “When the government spends, the money has to come from somewhere. If the government doesn’t have a surplus, then it must come from taxes. If taxes don’t go up, then it must come from increased borrowing. If lenders won’t lend, then it must come from the printing press, which is where all these bailouts are headed. But each additional dollar printed diminishes the value those already in circulation. Something cannot be effortlessly created from nothing.”

And the same is true for job “creation” by the government – as Schiff noted. Government’s interference in the labor pool by competing with private-sector jobs or by propping up inefficient jobs through acts like the auto bailout would disrupt the marketplace and further damage the economy.

“You can’t bail someone out of trouble without putting someone else into trouble and the federal government doesn’t have a tooth fairy,” Laffer said on CNBC’s Jan. 5 “Fast Money.” “And every dollar of tax rebate or stimulus, whatever you want to call it has to come from the taxpayer sooner or later. And that’s going to hurt the economy.”

The media should be showing how government stimulus doesn’t work, as Japan found out in the 1990s.

This has gotten very little attention from the broadcast network media, with exception of former Bush adviser, Fox News Channel’s Karl Rove, who appeared in an interview on NBC’s Dec. 2, 2008 “Today.” “Today” co-host Matt Lauer referenced a Nov. 28, 2008 Wall Street Journal piece Rove wrote that used the Japan example and asked him if he thought Obama’s stimulus was destined to fail.

“He [Obama] laid some broad outlines, giving money to states in infrastructure spending and couple of other items,” Rove said. “And look, federal highway dollars, one out of every four federal highway dollars are spent in the year that they’re appropriated. Three out of four are spent years and years later. Japan put a half a trillion dollars into infrastructure spending in the decade of the ‘90s and it didn’t work in stimulating their economy.”

izoneguy on January 24, 2009 at 6:18 PM