Why Don’t We Just Give Everybody Money Then?
Well, it seems, at least in a round about way, that our president has finally realized that the best way to improve the economy is to put more money into the hands of the people that actually spend it.
Obama said lawmakers’ obligation to extend benefits is both moral and practical, citing some economists who believe extending unemployment is one of the most cost-effective ways to jump-start the economy because it puts money in the pockets of people who are likely to spend it quickly.
B.O. is spot on here. The best way to jump start the economy is to put money into the hands of consumers. The only problem with the extended unemployment benefits he’s seeking:
The $34 billion needed to extend benefits would be borrowed, adding to the nation’s mounting debt.
Now, how could we put more money into the hands of more people without having to ask China for it? That’s right: CUT TAXES ON EVERYTHING FOR EVERYBODY! It isn’t rocket science. In fact, it’s so simple, even our president gets it.
Obama also called on lawmakers to send him a package of tax breaks and credit extensions for small businesses.
This is a great idea (seriously). But why not extend the package to all businesses? Why limit it to small business? How about we also cut other taxes, like income tax? Of course, in addition to adding to the aforementioned tax breaks, Obama should request that Congress send him a bill consisting only of tax breaks, as opposed to attaching them to some God-awful budget or some other liberal piece of legislation that cancels out the benefit of the tax breaks. If our president is truly serious about tax breaks, he should be willing to sign a bill that is both pro-business and doesn’t add to the debt.
Unemployment benefits are a symptom of a larger problem though. No one (Dems or Repubs) has any interest in actually solving problems. Example: healthcare. Instead of tweaking the system that delivers the best healthcare in the world, which is all that was needed, we drop an ACME anvil on it. Why? Because no one gives a damn about actually fixing anything. Same with the financial overhaul.
Since Barry has admitted that the best way to stimulate the economy is to put more money in people’s pockets, all he has to do now is pass a bill that allows people to keep more of their own money. I, for one, am not holding my breath.