BernieHund: The Political Watchdog

Ben Bernanke thinks it’s time for a stimulus package.  He spoke before members of Congress and stressed the need for an immdiate stimulus package to spur the economy.  Bush is backing a stimulus package by phone, although he still wandering the desert ranches dressed as an Arab.

We are not in a recession yet.  We are on the brink, whatever that means.  The numbers indicate that the economy is slowing.  The middle and lower class will be feeling the crunch of inflation soon if something isn’t done.  We need to inject some money into the economy.  Give a $500 tax break to the low and middle income citizens.  What world are “they” living in?  The recession is here and didn’t just arrive for the poor and middle classes.

Well, I’m not one of those former CEO’s with a $100M severance package.  I’m not a Wall Street broker or a hedge fund manipulator.  I’m one of those poor to middle income people.  And, quite frankly disbursing $500 to families months from now won’t mean a thing to my overall economic situation.  Bernanke suggested that handing out a $500 tax break would stimulate the economy.  Sure enough, most of the recipients will believe the “windfall” is the answer to children’s shoes, a doctor’s appointment, a grocery shopping trip to WalMart. 

What it really does, the “windfall” that is, is to give all the poor and middle class people a say in who ends up with the money.  Because a meager $500 windfall is a band aid.  It will spur the economy, sure.  It will be a weekend high.  And, the following Monday, what will have changed?

Of course, $500 in any of our pockets would be welcomed, but does it solve the real problem?  What about the thousands of people losing their homes because of bad loans and worse loan advice?  What about the interest rates on student loans of college kids trying to get ahead?  What about the jobs that have already moved out of the country?

As usual, it’s too little too late.  We need a sustainable fix to the economy, not a quick fix… and that would entail someone reining in the greed in corporate bureaucracy that has led to this spiraling fiasco.

The system is broken.  We don’t need a fix.  We need to fix it.  Don’t give a man a fish.  Show him where the fishing hole is.