Not a Stimulus Plan, but a Spending Plan!
The Stimulus Plan in 2009 was nothing more than a Big Liberal Spending Plan. Obama said a Stimulus Plan is supposed to be a Spending Plan, but that is the problem. The government can’t spend an economy out of a recession. For the government to spend money that it doesn’t have will only bring high inflation. The government can artificially keep interest rate low through the Fed, but prices on food, energy, and clothes will just increase. We shouldn't spend money that is not there. And we shouldn't spend money on projects that won’t create jobs. Here is what former Congressman Mike Pence from Indiana said, “What does $50 million for the National Endowment for the Arts, $200 million to plant sod on the National Mall, $400 million for climate change research, and $200 million for contraception have to do with creating jobs?"
Stimulus plans only allow an economy to limp along. It doesn't create a robust economy that increases income, create, jobs, and grow wealth across the board. Here are 5 better ways to grow an economy.
1. Let those that pay taxes keep more of their money. Cutting taxes stimulates the economy. It worked when JFK did it. It worked when Reagan did it. And it worked when Bush did it.
2. We need to allow for more off-shore drilling, drilling in ANWR, and drilling in the northwest. "Drill Here, Drill Now!" We need the Keystone Pipeline and more fracking. Expanding drilling, Keystone, and fracking will create jobs and in the long run allow us to become energy independent.
3. The problem with the housing market was that too many people were allowed to buy homes with no income, no job, and no credit. If that wasn't a big enough problem people were buying more house than they could afford with ARMs, Interest-Only Loans and no down payment mortgages. We can’t go back to only 15 and 30 year mortgages with 20% down payments. But we can make sure people can afford to pay for the houses they buy. People that have good credit should be given special advantages with low down payment options. People that pay their bills, have a job, income history, and have been paying rent are a good risk. If you’ve been paying $1000 a month for rent for the last 3 years, then you can likely pay that same amount for a mortgage. It comes down to lending money to those who can and have shown they will pay their bills.
4. We need to act on the illegal immigrants. We can’t allow people that are not citizen and not paying taxes to keep coming into our country and using our services for free. This is destroying our economy. A part of the housing problems was illegal’s being allowed to buy a home. That has got to stop. And businesses that hire illegal immigrants need to be fined or closed down.
5. We need to end corporate welfare. Now we need to be clear that tax credits are not corporate welfare. Businesses being allow to keep the money they made isn't welfare. But the government giving money to businesses or special treatment for preferred businesses is welfare. Crony capitalism is not capitalism. And crony capitalism is basically what you get with a government stimulus plan.
