The President’s speech last night was nothing more than campaigning. Calling a joint session of congress and wasting their valuable time when the President could have sent his package to congress for review.
The President proposing nearly $500 Billion in new spending as if the $1Trillion spent last time to jump-start the economy in the job market would hold unemployment to 8%. Of course, the stimulus failed and the unemployment rate is over 9% and actual numbers are estimated at 16% due to those no longer looking.
Extending unemployment payments is most certainly vote buying at the expense of taxpayers. Tax credits for businesses that hire new workers; you have to have sustainable business for that one to work. Cutting the payroll tax for employees are good but again it is nothing more than vote buying for all these measures because it is not permanent.
He rolls on with money to rehire teachers that have been laid off across the country; vote buying again, because where will the money come from when the money runs out? Repairing schools with money spent one time, repairing bridges and roads that lead to a “bridge too far” and a road to nowhere. Taxing the rich is not going to even come close to healing our down economy it will only hurt Americans even more. If you were that wealthy and you were taxed even more would you be hiring more people?
The President said this is only part of the proposal and the rest will be revealed in a couple of weeks: what? What is he proposing to do have another joint session of congress for another campaign speech to roll out the rest of his vote buying measures?
In a nut shell, the President’s proposals were nothing more than his campaign for re-election to those people that are suffering economically. And they have a short time of relief and will face once again unemployment in the short term.
Massive deregulation is needed for businesses not token relaxation, considering it costs $1.75 trillion dollars to comply with these job killing regulations. Permanent massive tax cuts for individuals and reduction of the corporate tax rate from 35% to at 25% would go far hiring new employees immediately.
“Hello Mr. President” If you would like to know why the nearly $2 Trillion in investment capital is on hold by businesses. Look no further than yourself and the policies that your people have done to kill business since 2009! You and the government need to stop trying to meddle and micro manage the economy and get the hell out of the way; please!