by Bill Clark

Created on: March 08, 2009

There are some who have used the analogy band-aid on a gunshot wound. I see it more of a inserting a fillet knife in the wound and slicing downward. The damage will be devastating not just to the economy, but to the nation as a whole. The stimulus bill is bad enough, then add the mortgage bailout, T.A.R.P. 2 (banking bail out), universal health care, the omnibus budget bill, and social security/Medicare obligations. The camels back and its legs are broken. The speaker of the house and the senate majority leader: Nancy Pelosi and Harry Reed, wrote this legislative equivalent of a road apple. Them and everyone who added their own bits of pork in this bill should be ashamed of themselves republican and democrat. In a perfect world they would lose their parties primary each and everyone of them.

The majority of the projects will not be ready for several years. All of the pet projects throughout this bill have no direct effect on the economy. We spend more than we bring in, there are three ways we can pay for everything all of them bad for us. We print more money which devalues the dollar causing inflation. The worst case scenario on that is hyper-inflation. A good example of this is pre World War two Germany. The German people quickly traded freedom for economic prosperity. The second way is raise taxes. This will cripple any current expansion a company has,and will kill any future plans. The country with the little or no corporate tax gets all the business. The final option is the most dangerous, the government sells bonds. These bonds are mostly bought by sovereign wealth funds, among the buyers are China, the European Union, and middle eastern oil kingdoms. The last one should scare us the most because we become indebted to them. They can say or do anything at all, and we are unable to stop them. If the Chinese called in their current i.o.u's today, that alone would collapse the United States economy. The bright side of this is they all have a vested interest in our economic good health. As the old saying goes "if the U.S. gets a cold the rest of the world gets pneumonia".

The biggest by-product of this mess is the increased size of the federal government. History has shown that no good comes of this. The rights of the individual are exchanged for benifits for the many. Who we are and what we believe in as Americans will be challenged. That trade of freedom for prosperity is being offered to us now. The question now is do we sit idlley by while Rome burns,or do we stand up for ourselves.

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