Buffett rule
“Jumpstarting” the economy?
A man paid a small fortune to have his car fixed, but it soon broke down while he was driving home. He called the repair shop, but the mechanic told him, “There’s nothing wrong with your car, sir. You just have to get someone to jumpstart it.” Growing impatient, the stranded motorist asked very sarcastically, “And just how many years will it be before I can drive WITHOUT needing a jumpstart?” The mechanic laughed and said, “As many years as you pay me to be your mechanic!” I tell this story because I heard President Obama speaking a few months ago, claiming that his jobs act “Will jumpstart thousands of transportation jobs across the country.” More recently, he told returning Iraqi veterans that “We must jumpstart industries that create jobs.” In other words, we have to jumpstart the economy.
Wow! The stimulus package failed so miserably that President Obama can’t even use the word “stimulus” anymore, so he’s using the word “jumpstart” instead. But it still means the same thing. It’s still artificially stimulating the economy, which is why he’s already talking about raising the debt ceiling again. He has to borrow another $1trillion (hello…China?) for his 2013 budget because our economy will collapse if the jumper-cables are ever removed.
The truth is, a healthy economy doesn’t need jumpstarting, and a weak economy can’t be. It’s been three years now. How much longer will we keep throwing away trillions of borrowed dollars? (Hint: ask the above-mentioned mechanic.)
Our government borrows $4billion per day. President Obama’s proposed “Buffet Rule” (raising taxes on the rich) would bring in less than $5billion per year. That’s pathetic. The government spends over twice that amount each day. When I see the scores of clueless reporters obediently praising the Buffett Rule, I think of the old commercials with the sizzling, greasy frying-pan (“This is your brain…on drugs”).
John Land
Englewood, FL
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