Economic Stimulus

Obama Promises to Create 2.5 Million Jobs, but in What Countries?

President-elect Obama promises to create 2.5 million jobs and has plans for a massive stimulus package costing at least half a trillion dollars if not $1 trillion dollars.

But where exactly would those jobs be created?

Business Week Journalist Michael Mandel asks Can Obama Keep New Jobs at Home? Mandel points out that a massive stimulus might just well go offshore.

Some startling facts in this article:

Imports have risen from the equivalent of 9% of gross domestic product to almost 19%. Even more astonishing, the value of imported goods now is equal to almost 40% of the output of U.S. manufacturing.

I'm From the Government, and I'm Here to Help - Ronald Reagan

The government is at it again and as usual, they are bowing to industries whim. First they wanted to give us 'tax rebate' checks that will assist with either making a car payment or buying a few Chinese-made goods (hold the lead, please). Now they want to put a moratorium on home foreclosures.

While I like 'free' money as much as the next person, this cash-back plan is flawed. Theoretically, pumping a whole bunch of money into the economy should prop the economy up. The reality is that our society is mostly based on debt. House payments, car payments, credit card payments, second mortgages, student loans, personal loans, and any other payment made to pay off a debt consume a vast amount of most people's income. So when you get your check, are you going to pay down a debt or buy a big-ticket item? If you buy something, will it be American made? Or are the profits leaving our shores?

Americans are Producers, Not Consumers

Have you ever noticed that the only attention Americans get from this administration is when they stop shopping?

Bush announced a $145B Economic Stimulus plan that is in the form of tax rebates. He wants to put a whopping $800 dollars into the pocket of every single tax paying American.

Even Bruce Barltett, a former Bush administration member, said: