Sunday, March 01, 2009
The porkstimulus bill that President Barack Obama and Speaker Nancy Pelosi have cooked up will fail miserably at creating new jobs and reversing our economic kamikaze swan dive.
In a crisis, hysterical people will squaller, “Do something.” Throwing a cinder block to a drowning person qualifies as “something” — the wrong something.
Alarmingly, our government is now tossing out cinder blocks to solve the financial crisis.
The result: America, already drowning in unsustainable mountains of debt, is proceeding to pile on more of the same.
The pork-stimulus bill that President Barack Obama and House Speaker Nancy Pelosi have cooked up will fail miserably at creating new jobs and reversing our economic kamikaze swan dive.
It is weighed down by irresponsible, ineffective, wasteful spending, which for Washington, D.C., spells S-T-A-T-U-S Q-U-O.
It is not just Obama who wants to feed the grossly obese Fedzilla. Former President George W. Bush fed Fedzilla mountains of our tax dollars, too. According to the Wall Street Journal, during Bush’s tenure America witnessed the largest expansion of Fedzilla spending since Lyndon Johnson’s Great Society boondoggle.
Now Obama offers a menu of spending items that is the most irresponsible in history:
* Billions for Fedzilla’s railroad, Amtrak.
Shamtrack, I call it, is the little railroad that couldn’t make a profit.
It should be derailed.
* Millions more wasted on the global-warming scam of the century.
Here’s how we can save this cash: We agree the Earth warms and cools. We admit this is a naturally occurring cycle and there is nothing we can do about it. We admit Al Gore is a fraud and a global-warming Ponzi schemer. We take back both his Nobel Prize and documentary Oscar.
* Billions more wasted feeding Medicaid. Give me one week with some smart, savvy business people and we will come up with a private-sector, cost-effective, efficient health care program that does not include Fedzilla and its gluttonous, unaccountable tax-dollar bonfire.
* Billions to feed Fedzilla’s Department of Lack of Education.
We can save this cash by parents checking their children’s homework and unplugging computers and video games.
According to an editorial in the Wall Street Journal, only about 12 cents of every dollar in the pork-stimulus bill will create new jobs.
The way out of this mess is permanent tax cuts across the board. Find a tax and slash it at least in half. This will ignite the fuel of private industry and create new jobs to yank us out of the economic abyss in months, not years.
Along with tax cuts, Fedzilla’s spending should be slashed by 25 percent.
Imagine how the stock market would instantly respond to that bold, new approach.
Instead, the Obama administration and the Democrats in Congress have thrown a concrete block to drowning Americans and called it a life preserver.
Ted Nugent is a Waco-based musician and television show host. Contact him directly at tednugent.com.
