Our economy has been brought to its knees because of the disastrous fiscal policies of politicians from both major parties as well as their creation of government created private entities like ‘Fannie Mae’ and ‘Freddie Mac’ that interfered with our country’s economic system. For decades, Republican and Democratic members of congress have insisted on spending more than they can tax or borrow and the Federal Reserve (a group of private bankers) has conspired with them by printing Trillions of dollars in new “Fiat Money,” which is backed up by absolutely nothing, to make up the difference.
The proposed new $825 Billion Stimulus package will cost well over $1 Trillion if just 2 years of interest is added onto it. You see, the federal government does not have the money for the stimulus package, so the Federal Reserve will just print a couple of trillion dollars for them and the American taxpayers will pay it back with interest.
The President and Congressional leaders are calling the current proposed stimulus package “an investment in America’s infrastructure” but that is simply not the truth. According to the Congressional Budget Office, only 3 percent, or just $30 billion of this entire package, is dedicated to road and highway spending. The stimulus package will, however, provide additional funding for 150 different federal programs, will create 32 new federal programs, will expand government employment and federal agency budgets, but it’s still not clear if it will create any measurable number of new private sector jobs.
While the people of America cut back on their spending and struggle to make ends meet, congress’ new stimulus package will insure that government agencies and selected special interest groups will get more money to spend. This proposed legislation provides enough spending to give every man, woman, and child in America $2,700, or over $6,000 to every individual taxpayer. What did the American taxpayer get for the $ Trillion dollar plus bailout of Wall Street Firms and the Banks? Absolutely Nothing! Unless you consider that the goal was to help some banks and Wall Street firms buy out other banks and Wall Street firms. To make matters worse, it was just reported that Wall Street execs gave themselves over $18 Billion in bonuses in 2008 as a reward for their failure, all with the taxpayers’ bailout money.
The government should be giving stimulus money back to the people who actually gave it to the government in the first place: the American Taxpayers. After all it is the people’s money, isn’t it? It would certainly do more to stimulate the economy and create jobs for the Americans who are losing their jobs, than giving the taxpayers’ money to Wall Street firms, international Banks and hundreds of politically connected special interest groups that are currently lined up at the federal trough ready to feed off of the American taxpayers once again. Under this new stimulus legislation, even illegal aliens, without social security numbers, will be able to qualify for the $500 per person tax credit checks. That will really help the American people.
It is perfectly clear that there’s more pork in this bill than you would find at a mid-western slaughterhouse. This bill is not designed to create large numbers of private sector jobs or to stimulate the private sector economy of this great country. Rather, it is designed to fundamentally change how the American economic system will operate in the future, with an ever expanding and intrusive role for the new Politburo in the federal government.
John Wallace
Chatham, NY 12037
Email: john@nycampaignforliberty.com
