It looks like the tide of public support is starting to turn against the $1 trillion stimulus package. Congress will have to rethink a few of the details but the package is not going away. It will be back with the claim that all the “waste” has been cut out. We’re going to have a stimulus package and that’s that.
I was thinking in my car on the way into work yesterday: what could the government do with $1 trillion? If there are 350,000,000 people in the United States, the feds could write a $2,857 check to each person. To my typical family of 4, that would mean a windfall of over $11,000!! There are a lot of things I could do with $11K – make a down payment on a new house, payoff some bills, put it aside for my daughter’s college in a couple of years, or maybe replace my wife’s 14 year old car. There are many ways that I could spend it. I can see why some people are excited about it.
But here’s the flip side of the coin. The government doesn’t really make any money (except what it prints). The only money the feds have is what they collect from us in taxes. So a trillion dollar spending spree means we need an average of $2,857 in taxes from each individual ($11,000 from a family of 4) to pay for it!!
In other recent stimulus attempts, the government would cut taxes. This gave people more money to spend in the private sector. Obama’s plan (along with his Democrat partners in crime) is to use our current economic woes as an excuse to expand the government – more government control over business, more government bureaucracies, and more taxes from us.
Don’t be lured by a promise of a “tax credit” for each person. That’s just the bait to get you to swallow the hook. This package will drag America even further toward socialism. It’s a wolf in sheep’s clothing!