toomuchtime_
Gold Member
- Dec 29, 2008
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If there's a patient who needs CPR in one bed, and a patient in the next bed who doesn't need CPR, and you give the CPR to the wrong patient, guess what?
The CPR won't help.
THAT is what we're doing right now.
The problem is that no one knows what we're doing right now. The Wall Street rescue plan was for the stated purpose of preventing the financial crisis from spreading to Main Street, but it turns out that it had already spread to Main Street and none of the people running the show on either side of the aisle knew.
But politicians always think they should be seen doing something even if they have no idea what to do, so now that after the Wall Street bailout and the Detroit bailout the public is sick of bailouts, we have enter the age of stimulus packages, despite the fact that no one has any better idea of how a stimulus package will help get us out of the deep recession we have entered than they did how the Wall Street rescue plan was supposed to cure the financial crisis.
Politicians on the right argue that the package should be mostly tax cuts to businesses and upper income people to promote more investment while politicians on the left think tax cuts should go to provide middle class relief and for federal spending to support more demand, and President-Elect Obama seems to being mostly intent on using the stimulus package to keep campaign pledges and to justify spending huge amounts on his pet projects like green energy and infrastructure repairs and upgrades despite the fact there is no reason to think this will provide any kind of economic stimulus until well after the economy has already recovered.