The New York Times says that Timothy Geithner will be having a do-over of Americas financial system http://www.nytimes.com/2009/02/11/business/economy/11geithner.html
As I recall that plan was rushed through congress with the notion that something had to be done or our economy would go belly up. Does that sound familiar? It sounds just as familiar as today's newscasts. Now Geithner is talking about 2.5 trillion dollars or more to shore up the banks. Don't worry about the costs because it will include printing money. Shades of Jimmy Carter and the I word
Why are we rushing to spend 900 billion dollars on programs that won't create jobs anytime soon. One estimate is that every job created will cost $300,000. Not a very good return on our tax dollar.
Thats okay though because if it doesn't work we can just have another do-over. What will a do-over stimulus bill cost?
We really don't need this stimulus bill the way it is written. Take another month and find out what creates jobs. Then pare the bill down to a 'measley' 300 billion dollars and we and our children will be better off.
Tuesday, February 10, 2009
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