Posted by
Mike the Maintenance Man on Sunday, March 22, 2009 7:30:23 PM
Assume for a moment that your best friend has lost his high paying job, not hard to do with unemployment on the rise, and he comes to you and starts telling you that he's gone out and purchased one of those new I-phones, a new Ipod Touch, bought every member in his family (himself included) an entire new wardrobe, and is thinking of cashing in his 401k to buy a 2009 Maserati Gran Turismo (which according to edmunds.com MSRP is $117,500). It would be hard to imagine anyone foolish enough to rationalize the wisdom of this scenario, let alone, anyone foolhardy enough to actually pursue such an insane spending spree under those conditions. However, it appears that the elected administration in Washington, as well as the representatives we have sent to serve us there, have decided that such a course of action is not only wise, but also, noble.
During one of the greatest recessions in history, our federal government has decided that the wisest course of action is to pass legislation authorizing the largest spending spree in history. They authorized nearly 800 billion dollars in spending under the disguise of economic stimulus, over 400 billion in an omnibus spending bill packed with pet projects, and now the Obama administration is proposing around 3.5 trillion in budget spending. According to the Congressional Budget Office, "the
cumulative deficit from 2010 to 2019 under the President’s proposals
would total $9.3 trillion, compared with a cumulative deficit of $4.4
trillion projected under the current-law assumptions embodied in CBO’s
baseline. Debt held by the public would rise, from 41 percent of GDP in
2008 to 57 percent in 2009 and then to 82 percent of GDP by 2019
(compared with 56 percent of GDP in that year under baseline
assumptions)." see http://cboblog.cbo.gov/?p=216
We can't afford the massive spending sprees of our "non-representing" representatives, and we don't need the government meddling in the free markets. These spending measures are being made by borrowing from our children, printing more and more money (which devalues our dollar and leads to inflation), and raising taxes on a massive, punitive scale. If that doesn't bother you, it no doubt will when you receive the bill.
What bill? Well, if you own a small business, earn over 250,000 dollars a year, and file taxes as a sole-proprietor, like many do, you are one of those being targeted by a socialist, redistributive tax hike. Even those individuals who earn less than 250,000 will be taxed through a proposed "cap and trade" tax on energy, which will be passed on to the consumer. Many of us have looked at our electric or phone bill and seen the fees listed as government taxes and fees, so it is not a stretch to assume that any additional tax on energy would not show up on a consumers electric bill. This is just the tip of the iceberg, and we need to make our objections heard now, and loudly.
Finally, in closing, the government has mismanaged nearly every program it has touched, and it isn't likely that their performance, meddling in the private sector in the name of restoring the economy, is going to improve. In fact, every attempt so far by this administration has resulted in greater damage to our economy. Need an example? Look at the AIG mess, or listen to Jim Cramer refer to Obama's policies as the largest wealth destroyer in history. see http://www.mainstreet.com/article/moneyinvesting/news/cramer-my-response-white-house?page=2
Mike the Maintenance Man
P.S. Maybe I will join some of you out there and send my own teabag in protest.