House to Vote Tomorrow on $825 Billion Stimulus Bill

Despite a maddening lack of say-so from the mainstream press, the House of Representatives does indeed plan on casting a vote tomorrow with regard to the Democrats’ $825 billion “stimulus” package. Sure, we’ve actually heard quite a bit about the contents of the bill, and the House Republicans’ dissatisfaction with the package has indeed received airtime, but I consider the silence on the actual vote to be deafening.

Yesterday, I had the pleasure of speaking briefly with North Carolina Rep. Walter Jones about the TARP funds and the planned “stimulus” package. I’ve also been trading e-mails with Rep. Ron Paul’s press secretary, who today told me that her boss feels as though the market has made its feelings known about Merrill Lynch, Bank of America and the other banks which had been operating wastefully and irresponsibly. According to his press secretary, Dr. Paul believes that rather than enabling more bad behavior by giving them more and more money to throw away, we should listen to the market and stand firm.

“If we are paying attention, we learn that politician driven spending is never as effective or productive as market forces and market driven investment,” said Dr. Paul in a statement made to America’s Right through his press secretary. “The market can correct itself. But if the government steps in and distorts things for the politically favored, the need for the correction does not go away, it just delays and expands the inevitable pain.”

In the past, I’ve been vocal in my disagreement with the more isolationist aspects of Dr. Paul’s perspective and worldview. That being said, however, in these troubled times he has proven to be a voice of reason — unfortunately, I fear that not too many on Capitol Hill are listening.

Having received permission to do so, I’d like to reproduce Dr. Paul’s weekly column from January 12, 2009 in full. I cannot agree more. In the meantime, call your congressmen and congresswomen tonight and tomorrow morning; flood their voicemail inboxes with pleas for fiscal common sense.

Stimulating Our Way to Rock-Bottom
By Rep. Ron Paul

With attention turning to the next big economic stimulus package, questions are still swirling about our economic troubles. How did we get here? How do we get out? As usual, Washington has all the wrong answers. According to many politicians, we got here by not spending enough, not consuming enough, and not regulating enough. Now government, like some mythical white knight, is going to ride in to save the day by blanketing the economy with dollars, hiring an army of new bureaucrats, creating make-work jobs, and sending everyone some form of a bailout check. The debate seems to focus on whether this will cost enough to save the economy, or if this is just a “down payment” with much more government spending to come. Talk like that would be comical, if the results weren’t going to be so tragic.

The results will be worsening economic woes until we learn our lesson. But instead Congress is behaving like drug addicts who must hit rock bottom before they are ready to face reality. They are playing foolish games with the economy now because they are thinking only of political expedience. This talk of job creation is a perfect example.

Contrary to the belief of many, the goal of the economy is not job creation. Jobs can be a sign of a healthy economy, as a high energy level can be a sign of a healthy body. But just as unhealthy substances can artificially give the addict that burst of energy that has nothing to do with health, artificially created jobs just exacerbate our problems. The goal of a healthy economy is productivity. Jobs are a positive outcome of that. A “job” could be to dig a hole one day, and fill it back up the next, or perhaps the equivalent at a desk. This does no one any good. But the value in that paycheck ultimately has to come from taxing someone productive. Some think this round-robin type of economic model is supposed to get us somewhere.

Politicians and bureaucrats have already done their fair share to ensure that jobs in the private sector are prohibitively complicated and expensive to create. They are now shocked that the economy is shedding jobs, and want to simply create hundreds of thousands of jobs to make up for the job losses, through another so-called economic stimulus package. The private sector must be permitted to do that, but instead they are massively burdened with taxes and webs of red tape and regulation. Washington’s bandaids will only prolong this agony. The Austrian school of economics teaches that only a free market economy, unencumbered by onerous government controls, creates long-term prosperity. Politicians, however, tend to be notoriously short-sighted.

I am left with these questions – who is going to be left standing to tax in the private sector to pay for all these public sector make-work jobs? Is Washington really to be considered some sort of savior for creating unproductive jobs in place of the productive jobs they eliminated?

We are at an economic dead-end and those in power are in denial. The truth is our economic problems are due to loose monetary policy, central economic planning, and the parasitic expenses of government. Unless we assess these problems honestly, we unfortunately have a long way to go until, like the junkie, we hit rock bottom.

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Comments

  1. Anonymous says:

    Everyone of us has the ability to let our Congressional representatives hear from us. It is so easy. Just go to https://writerep.house.gov/writerep/welcome.shtml
    It is very easy to follow. You can contact your Congressman tonight to let him know. Today, Glenn Beck basically said everyone better get with it, or this thing is actually going to pass.

  2. goddessdivine says:

    Great article. It makes me wonder if our elected officials have ever taken an Econ class. Or perhaps they just never attended.

  3. Jesse and Stephanie says:

    Thank you for posting something from Dr. Paul! I don’t think there is another mind on Capitol Hill like his when it comes to economics and monetary policy. Then again, I wasn’t sure there were any minds on Capitol Hill…

  4. tm says:

    This bill is an absolute joke –
    647 pages so ridden with socialistic pork it would make jimmy dean and oscar mayer so very proud. Chairman Gong show and his merry band of clowns have outdone themselves in paying back all (ACORN) who helped elect him. George Soros probably thinks himself a genius to have single handedly handed the USA its ASS. I have called my reps and hope all will do the same.
    Here’s the link if you can stomach it.

    http://www.rules.house.gov/111/LegText/111_hr1_text.pdf

  5. Tigress says:

    Thank you for putting Dr. Paul’s word up. He 1) makes sense 2) is a champion of liberty and 3) is relentlessly consistent. For those things alone he’s got my complete admiration and respect.

    His ideas require some amount of effort to understand (not much–anyone can if they try) so it would be an uphill battle if you want to teach any of them to the Obot nation we’ve become.

  6. gailbullock says:

    Doesn’t it look like the guys in Washington (DC) would seek some financial guidance before they rush in where angels fear to tread, when they know that we are already in a recession? Their Stimulus Package is NOT PRODUCTIVE; it’s political PAYBACK.

    David Walker, head of the Accounting Office during Bush 43, quit out of sheer frustration. He warned and warned, but no one listened. They’re still not listening! They have $825 billion to throw away for global abortions.

    They haven’t asked for Rep. Ron Paul’s input, either; and that’s a shame. Excellent job, guys–both of you. And thank you both.

  7. Anonymous says:

    Warning: Listening to Dr Paul’s ideas on money and economics can quickly lead one to the conclusion that he is probably right about many other issues-including foreign policy and most especially the perils that come from undermining or ignoring the constitution. As he said at the start of the presidential campaign:
    “The foundation of a police state has been laid. It is urgent that we mobilize resistance before it is too late.”

  8. Malcolm says:

    Great article!

    Haha I wish it was $825! I know you meant $825 B. Although even if it was only $825 I’d still be against it…

    Rewarding companies for making bad decisions is just insane. And it’s not even their money they are spending. Why not leave the economy alone and let the people spend their own money!

  9. Anonymous says:

    Yes, and how about the fuel efficiency regulations PO is putting on the auto industry. Doesn’t this just counteract the $$$ already given to them?

    I heard today that it will increase costs from 2-10K per car. I think it’s time to saddle up ‘ol Bessie and hitch up the wagon.

  10. Jeff Schreiber says:

    Malcolm said…

    Great article!

    Haha I wish it was $825! I know you meant $825 B. Although even if it was only $825 I’d still be against it…

    Oh … my … goodness.

    How many times did I look at that headline, missing “billion” after the dollar amount?

    Sometimes, it just takes a fresh set of eyes. Thank you!

  11. Hamster says:

    When I think of the 700 billion dollars (and counting) that we are spending to bring “freedom to Iraq”, to rebuild Iraq’s roads, bridges, schools, to train and equip their police force and army, the get their electricity working and to bring clean water to their villages….I have to ask “Where is the Republican outraged when all that taxpayer money was being spent on a foreign country thousands of miles away (despite Iraq’s huge oil wealth)
    Sure, there’s some spending programs that won’t do a whole lot to stimulate the economy in Obama’s package…but at least it’s money that’s being spent here in the US.

    I’d rather see my tax dollars go to to putting sod on the mall in Washington DC or building a bridge in Minneapolis… rather than being wasted over in Iraq.
    How do you explain to your children that we spent $700 billion in Iraq but have nothing to show for it but a shoe thrown in the presidents face.

    Why didn’t the Republicans protest loudly about deficit spending and wasted tax dollars back then?

    Is it because the money was going to Iraq and not to America??

  12. Anonymous says:

    And, Hamster, why didn’t the Democrats protest loudly when Bill Clinton made the lending institutions lend money to those who obviously could not afford to pay it back just so he could look good in history? Any economist will tell you that the subprime lending crisis is what started this situation we are in . . . and, even after warning from many Republicans, there is only one person – William Jefferson Clinton (it even makes me crazy to type his name)- to blame for the subprime financial crisis. I suggest you contact someone in the military and ask them the real story about what’s going on in Iraq and how that money was productively spent to assure that you: (1) are still alive; and (2) have the right to post your garbage on a site like this.

  13. Anonymous says:

    As a further note, Glenn Beck attempted to put things into prospective today. As you all know, this new “stimulus” plan approaches $1 trillion. To get an idea of what $1 trillion is, according to Glenn Beck, a $1 trillion stack of $1,000 bills will be 63 MILES long. That’s right – 63 Miles!! Think about it. That’s: (1) how much money they plan on printing which will make your money worthless; and/or (2) how much more you’ll be taxed to make up the obvious shortfall. Certainly the vision of that kind of $$ should be more than enough motiviation to get people to the phones and to their computers to write letters. Don’t let them silence our voice.

  14. Glacialhills says:

    “Listening to Dr Paul’s ideas on money and economics can quickly lead one to the conclusion that he is probably right about many other issues-including foreign policy and most especially the perils that come from undermining or ignoring the constitution. As he said at the start of the presidential campaign”

    I want to know where Mr. Ron Paul was when the congress met to count electoral votes on the 8th. Funny but I didn’t hear him stand up and object. You see, the thing about talk is…its cheap.

  15. Anonymous says:

    You think the war in Iraq is costing us too much? Read this:

    1. $11 Billion to $22 billion is spent on welfare to illegal aliens each year by state governments.
    Verify at: http://tinyurl.com/zob77

    2. $2.2 Billion dollars a year is spent on food assistance programs such as food stamps, WIC, and free school lunches for illegal aliens.
    Verify at: http://www.cis.org/articles/2004/fiscalexec.html

    3. $2.5 Billion dollars a year is spent on Medicaid for illegal aliens.
    Verify at: http://www.cis.org/articles/2004/fiscalexec.html

    4. $12 Billion dollars a year is spent on primary and secondary school education for children here illegally and they cannot speak a word of English!
    Verify at: http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.0.html

    5. $17 Billion dollars a year is spent for education for the American-born children of illegal aliens, known as anchor babies.
    Verify at http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.01.html

    6. $3 Million Dollars a DAY is spent to incarcerate illegal aliens.
    Verify at: http://transcripts.cnn.com/ TRANSCRIPTS/0604/01/ldt.01.html

    7. 30% percent of all Federal Prison inmates are illegal aliens.
    Verify at: http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.01.html

    8. $90 Billion Dollars a year is spent on illegal aliens for Welfare & social services by the American taxpayers.
    Verify at: http://premium.cnn.com/TRANSCIPTS/0610/29/ldt.01.html

    9. $200 Billion dollars a year in suppressed American wages are caused by the illegal aliens.
    Verify at: http://transcripts.cnn.com/TRANSC RI PTS/0604/01/ldt.01.html

    10. The illegal aliens in the United States have a crime rate that's two and a half times that of white non-illegal aliens. In particular, their children, are going to make a huge additional crime problem in the US
    Verify at: http://transcripts.cnn.com/TRANSCRIPTS/0606/12/ldt.01.html

    11. During the year of 2005 there were 4 to 10 MILLION illegal aliens that crossed our Southern Border also, as many as 19,500 illegal aliens from Terrorist Countries. Millions of pounds of drugs, cocaine, meth, heroin and marijuana, crossed into the U. S from the Southern border.
    Verify at: Homeland Security Report: http://tinyurl.com/t9sht

    12. The National policy Institute, estimated that the total cost of mass deportation would be between $206 and $230 billion or an average cost of between $41 and $46 billion annually over a five year period.'
    Verify at: http://www.nationalpolicyinstitute.org/pdf/deportation.pdf

    13. In 2006 illegal aliens sent home $45 BILLION in remittances to their countries of origin.
    Verify at: http://www.rense.com/general75/niht.htm>;

    14. 'The Dark Side of Illegal Immigration: Nearly One million sex crimes Committed by Illegal Immigrants In The United States .'
    Verify at: http: // http://www.drdsk.com/articleshtml

    The total cost is a whopping $ 338.3 BILLION DOLLARS A YEAR AND IF YOU'RE LIKE ME HAVING TROUBLE UNDERSTANDING THIS AMOUNT OF MONEY; IT IS $338,300,000,000.00 WHICH WOULD BE ENOUGH TO STIMULATE THE ECONOMY FOR THE CITIZENS OF THIS COUNTRY.

  16. Anonymous says:

    It’s a drop in the bucket for them.

    They have willingly been given carte blanche.

    Look at their attack on Limbaugh, O’s response to the Politico reporter, and etc…..

    Full steam ahead Capt. Edward Smith!

    Even Forbes commentary is saying that we are on the verge of economic boom…. or Cubanesque economic peril.

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