Posted by: winteridge | April 19, 2009

Obamanomics?


Okay, maybe I am getting a bit slow in my old age, but I can’t seem to grasp the idea of the Great Economic Stimulus Package.  Maybe someone can explain it for the rest of us.

Okay, from what I understand so far, our government is taking large amounts of our tax dollars which they will not even collect until years from now, maybe, and turning these dollars over, without restrictions, to the banking, auto, and financial geniuses, or geniusi, who, thru their own greed and blunders, have lost most of the monies they had, most of which originally belonged to the taxpayers.  Make sense?

These financial experts will take these unlimited $trillions, less what the congressmen “earmark”, and then lend some of it back to some of the taxpayers, who are already unemployed, over-extended with credit card and mortgages, and have lost all or most of their retirement and investment money.  And this will help us how? And note that most of the President’s top financial advisers have been recruited, yes, from Wall Street.  They KNOW what they have been doing wrong!

In fairness, I did hear that the President proposes to give each and every long-suffering taxpayer a Stimulus payment of $400, (spread over a year).  Admittedly, $400 is a lot of money, especially for the many who have lost their jobs and retirement money.  That amount might be enough to, what, not make a mortgage payment-maybe pay the credit card interest for a month?  Nope, that won’t do it, Mr Obama.  And here in NY, Governor Paterson has already seen to it that we will be contributing much more than $400 if we wish to stay here another year.

Could it be that we will soon be looking back on the Bush/Cheney era as The Good Ol’ Days, and not the Dark Ages?

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Responses

  1. I like Jon Stewart’s idea, which was to take all that bailout $$$$$$ and apply it against the debts of regular Americans. Mortgages, credit cards, whatever.

    The banks get the big influx of cash they need, and regular people get some of the pressure on them off so they can go back to buying useless crap and get the economy back on track.

    We keep getting reports at the blog of companies hiking up credit card rates as high as they legally can to squeeze money out of their customers to help them (THE BANKS THAT IS) through the recession. How nice.

  2. I forgot to say: the Jon Stewart idea makes too much sense, so that’s why they couldn’t do it.

  3. And what about the millions who are unemployed, many of them no longer being paid unemployment insurance? Can’t give them a bonus thru their non-existent paychecks. Maybe pay it out in food stamps? No, those are ear-marked for the legal (and illegal) immigrants. Oh, well, let’s not worry about them-they probably wouldn’t buy a new car with that $400 anyway.


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