Obama’s second multi billion-dollar “jobs/stimulus” bill should be named Government ‘Created’ Jobs Fraud.
The fact that the first pork-laden bill was unsuccessful (10.2% unemployment) creates no concern with our socialist president. Obama sees only one solution to any problem: More Government!
‘Stimulus’ programs do not create jobs: they create temporary projects. As soon as the money is spent, the ‘job’ disappears. As the, ‘stimulus’ money is taken from income earners, the earners have that much less money to spend on products and services. The end result is a transfer of jobs from private to public with the gross inefficiency of government added in.
What worked in the past reveals the need of an exactly opposite approach: tax cuts. Tax cuts dramatically lifted the economy under Presidents JFK, Reagan & Bush. Allowing those who earn the money to keep more of it encourages investment, business growth and jobs. Confiscating earnings has the opposite effect.
Japan has tried multiple ‘stimulus’ programs over decades and has still not recovered. Big increases in taxes under Hoover and FDR helped result in lengthening and deepening the Great Depression.
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