Once upon a time, the U.S. government’s budget deficit was a gigantic issue.
In the 1990s, the United States was able to pull itself out a huge red deficit after a twelve year spending spree by the Republican Administrations.
All of that went down the toilet after President Bush was sworn in to office two years ago. Since then he has racked up our nation’s bills while watching his tax-cut contribute to bigger, fatter red numbers.
Bush’s poorly named economic stimulus package calls for $674 billion dollars to be put back in the pockets of America’s fat cats. We all know they need it. They were looking a little peaked.
Sure, the White House claims that the average tax rebate will average over $1,000. What they’ve failed to tell you is that the average is tainted by hundreds of thousands of dollars going to those who need it least: the rich.
If Bush really wanted to get the economy back on track, he’d make sure the money was getting into the hands of people that would spend it.
Rich people already have their own money to spend and they’re not spending it now. It’s the people at the bottom of the pay scale that would spend the dough. However, in Bush’s vast sense of generosity, he plans to give them only $99.
The result of his huge $674 billion flop is going to be a pat on the back for him, and an economy that’s going to fall further and further out of reach of real help.
The Democrats’ plan, on the other hand, only cost $136 billion. People receiving this money would actually spend the money, thus stimulating the economy.
However, fat cats’ wallets would keep their current girth, and in turn their frowns would not be turned upside down. Perhaps Bush just needs a vocabulary lesson on the meaning of “stimulus.” Even officials in the White House know this won’t work.
Bush’s economic stimulus package is just another example of Bush exploiting his high approval ratings to bully-through his ultra-conservative, fat-cat-friendly, neo-fascist agenda.
Write to Megan Dahle at [email protected]