It was announced this past week that Christina Romer (left), President Obama's top economic advisor, is leaving her job. This is the same Christina Romer who, when Obama was selling us his snake oil "stimulus", promised that if it passed, unemployment wouldn't exceed 8% and it would have been 7% right now as of this writing. Oops! It actually went over 10%, and is now stuck at 9.5%. Most economists, as I've said before, believe that it is only that low because hundreds of thousands of people have given up looking for work and left the work force. We don't count those people as unemployed for some reason.
In a previous post I linked to a list showing how preposterous some of the "stimulus" spending really was. Collecting ants for study, replacing new sidewalks, and replacing windows in closed visitor centers were just a few of the wasted expenditures. The point is that the massive, almost $1 TRILLION boondoggle didn't target the money correctly. I pointed out that we could have just made up jobs and that we'd have been able to put 7.5 million people to work at $40,000 per year or longer with that money. I also pointed out how ludicrous that would have been--almost as ludicrous as what was passed. How should the "stimulus" have been spent? It should have gone to spur investment, and investment creates jobs. Imagine that! But of course Obama couldn't do that. The left wing would have howled that we were "cutting taxes for the wealthy". They don't want to cut taxes for those who create business and, therefore, jobs. They want to tax them and tax them and tax them some more. That is how Democrats claim they will pay for everything--by taxing the wealthy and making them pay "their fair share". Forget that the wealthy already pay a disproportionally high tax rate and that 49% of Americans pay no tax at all. Logic doesn't enter into Democrats' thinking.
So what do the Democrats want now? You guessed it! Another round of stimulus spending! Don't they get it? Don't they understand that they are bankrupting this country? Under Obama's budget blueprint, the deficit will be almost $20 TRILLION by the year 2020, at which time debt service (i.e. the interest on the deficit) will be the #1 expenditure in our budget. This is, of course, assuming we don't implode like Greece before then. However, chances of that happening grow every day. If that happens, this country will be ruined, millions more will be out of work and will have to turn to government handouts to survive. I believe that is what the Democrats want, and how they plan to control the population. But what I believe isn't relevant. The point is that they want more "stimulus" spending, when the first trillion dollars didn't work at all. I was in business for many years, and there is a saying in business that applies here too. Do you know what the definition of insanity is? Doing the same thing over and over and expecting different results. So, by this definition, the Democratic party has become the party of the insane..
Speaker Pelosi and Majority Leader Reid are the ones pushing this agenda. They have been in charge of the US purse strings since 2006. Will the American people continue to let them run things, hoping it will be different as well? If they do, then the American electorate is also trying the same thing and expecting different results. That would also make the American electorate, well...insane.
