"An $825 billion economic stimulus bill advanced another step on Tuesday, as the U.S. Senate Appropriations Committee approved a $365.6 billion portion of it as President-elect Barack Obama met with Republican lawmakers in an attempt to broaden sup
port."So we spend 700B on the first bail out, to fix the financial industry. That doesn't work, and the economy is still shedding jobs. The bottom still hasn't been found. Noone can seem to explain why the economy is in such shambles. "It's the real estate market." "It's the financial speculation market." "It's the auto industry." Whatever the current "reason" is for the economy being in such poor shape, it doesn't seem like pouring money into a broken system has done much to stem the tide.
So let's pour some more.
Now granted, this new bailout (actually being called a stimulus package) is geared more towards actually getting money into the hands of people to do some work. A blogger I know posted a while back about the proposed stimulus. Now this seems to be proceeding and will end up passing. So we just need to build some roads, and all our economic woes will be over? Hardly.
So what should we be pouring?
I think the the economy is in shambles, yes. But the key to moving forward is not to stimulate it artificially. It is not to bail out all the failed actors who are causes or victims of it. People will survive. The smart will have planned ahead, and will be able to weather it. The not so smart will be lean and hungry for a long time, but hopefully will come through. The dumb? That is the real problem, isn't it?
People who have been responsible and didn't over spend, and socked away during the good times, will now suffer and have to expend their savings, and cut back. The ones who didn't will get help from the government. It is still not decided, apparently, what kind of help. But you can't just let people starve to death, can you?
The government has to fix it, don't they?
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