The American Recovery and Reinvestment Act of 2009 has mainly been criticized by arguments predicated on the premise that the bill spends too much and will not jolt the economy in a positive direction. The choice then becomes a clear cut dichotomy to this simplistic thinking: don’t engage in fiscal spending or spend too much. But that’s a false choice. The New Deal helped save this economy when America needed it, and this bill hopes to do the same thing.
The problem with the way in which critics have gone about their bashing is that they fail to come up with any other solution other than to cut taxes. This bill WILL cut taxes for most Americans, and seeks only to raise taxes on the class considered “wealthy,” or those making over $250,000 per year. Additionally, the bill seeks to LOAN most of the capital, and have it paid back with interest to the government, and RETURNED to the tax payers. Part of the loaned money will go to states; to infrastructure projects to help our economy stabilize; to education, so that we have a competitive future in the world; and to health care, which will reduce costs associated with disease and hospital visits. Much of the tax payers money will also inject badly needed capital into our financial system, which has some potential for recovery in its pipeline.
Critics of the plan point to the upcoming entitlement crisis which sees the boomer generation retiring and a strain on Social Security. Well, if you want to talk about administrations, the Clinton administration saved Social Security through 2042. Now, we’re back in the hole, not because of the Obama policies. Another part of the entitlement crisis is, you guessed it, health care. How do you plan to take care of seniors whose retirements have evaporated in the stock market and in real estate? We MUST reform the very structure of health care, job creation, global integration, and international trade. That is what this bill seeks to do.
The personal attacks on Obama supporters are typical of Rush Limbaugh supporters, the idol referred to in the appellation being considered the de facto leader of the Republican party in an age where information has never been so accessible. Now there’s a real problem solver. Get on the radio, shout out some deformed philosophies on life to people who have worked hard all day and don’t have the time to form an educated opinion on the future, and rake in money and fame, and then admit what you are doing to nobody in your party’s chagrin. I see some of that criticism in the above piece.
Those of us around the world, including Gordon Brown, the prime minister of Great Britain, among others, agree that the patent need to do “something” about this crisis is not necessarily inspiring. It is indeed motivation, however, for those of us realists who want to save our future, and do whatever it takes to do so. Stop the negativity and get on board with you president. Those who made the argument that one should always respect the Office of the President during the Bush era should not use Limbaugh’s logic when a new administration takes the reins.
Let us stand together and do what we can to support this bill, support ourselves, and maintain a positive outlook for the future. Only then (speaking to the true motivation behind the above piece) will the markets and land prices respond favorably.