What's Da Buzz?

This is the short form of the Economic Stimulus that is being talked about extensively. So for those who are not a fan of long and boring details, here is the summarized version.

The government went on a large spending spree promising retirement incomes and health care to the people for the sake of buying votes. (Social Security, Medicare, Medicaid) Then they proceeded to take all of the money from those programs as they didn’t know how to stay within a budget. It didn’t take too long before an entire generation and more did the same thing.

Many individuals in the USA started off their adult life with a student loan. Before that debt is paid, additional bills were added on by running up credit card debt. They get out of college and get their first job and a car loan. When they get married, there are 2 student loans, 2 car loans, and 2-5 credit card debts. So the obvious thing is to get a house with a home loan and a boat with a boat loan. Then to afford the runaway spending, they get a second mortgage on their house for yet another loan. They didn’t notice they were up to their eyeballs in debt.

To make certain everyone had a “fair shake”, the government required all banks go give home loans to those who had no ambition in life, made little for income, and had a track record of not paying their bills. Then they made laws making certain the banks and the mortgage industry couldn’t lower the prices to what the market said they were worth. The banks and the government continued down this foolish path and sold these soon to be bad debts and spread the dumb ideas around to hurt the global economy.

Now, those who had a tendency to not pay their bills didn’t pay their bills when the cost of gas spiked. Due to the geniuses in Congress, they made food more expensive so they could “reduce pollution” when all they did was make it worse. The rest who are in debt up to their eyeballs have now woken up and realized they can’t continue living like that. With companies cutting back so they can survive, people have to cut back to survive as you don’t know when your company is going to get hit.

So what does the “Stimulus” do? About 90% of it is Congress and the President taking the taxpayers’ dollars from this generation and future generations and giving it to their supporters. They are only stimulating their control on power. The remaining portion will make few if any jobs.

If you listen to the media, the government and the media think the “stimulus” will get the citizens spending again. They keep repeating the same phrase. Spend more!! Spend more!! (Katie Couric on tonight’s news broadcast.) The taxpayers are broke. We have to focus on survival because Congress can’t stop spending our money. (Somehow they think $13 a week will get people to buy $20,000 cars and $1000 digital TVs.)

All they are doing is repeating the steps that led to the Great Depression. This is why we study history. We do so to not repeat the bad choices. Government control of economies ALWAYS fails, but you can’t teach the idiots in control that. And they wonder why they have approval ratings reaching single digits.

This is just a summary of all that I’ve written about over the years in the Health & Wealth category. It is painfully obvious to anyone who works hard and tries to pay their bills. But don’t take my word for it. Try these guys regarding the TARP bailout and the so-called “stimulus.”

For some background information, try It Will Get Worse and Stimulus Spelled Out.

The long form of my comments on this “Stimulus” is included in 3 parts below.