As a bad 3rd tier blogger, it behooves me to occasionally raise the collective consciousness of the 11 bloggers who follow my diaries. (yea for double digits!)
Not a lot of MSOC style Meta, very little self righteous faux Outrage and certainly none of the polemics and hysteria of candidate diaries out there splitting hairs here. (I just lost a potential 200 recommends with that comment)
Please read fast, because this will be scrolling off the recent list in 3 minutes making room for the 20 new 2 paragraph diaires titled, "Why I'll never vote for ________ !" by Singapore Sue and Mac is Back.
Today the President is proposing more tax cuts (which I think is just another excuse to funnel more money to the super rich)in an economic stimulus package that is being endorsed By Pelosi/ Reid /Bernacke as a bi-partisan cash infusion gimmick to hot wire America's shopping economy.
O.K. my little loyal flock of mostly lurkers ...stick with me til the end as we explore... singlely... the shallow depths of economic stimulus in America.
Attention Democrats! Trickle down economics do not work for the working class with doggie-doggie-give-me-a-bone-to-shop-at-Walmart with my tax rebate check pandering. It didn't work in, 1980 or 2001 and it won't work tomorrow.
Here's a snapshot of the bandaid we will get flung at us for the national Hemorrhage that is being called a recession. Isn't this the third one in 8 years?
"Democrats welcome President Bush's willingness to work together with Congress to provide urgent relief to the millions of Americans facing economic hardships," House Speaker Nancy Pelosi, D-Calif., said, adding that the two parties would "work together on the details of a stimulus package."
Bush has gone down the tax rebate road before. Back in 2001, he added refunds of up to $300 per individual and $600 per household as a recession-fighting element of the tax cut plan that had been the centerpiece of his 2000 campaign.
Hell I don't know about you, but a one time $300 check aint going to relieve any economic hardship of anyone I know. That's a trip to the grocery store for 1 week. If I get a check, I'm cashing it and going out to buy a big bag of Chronic to alter my negative consumer sentiment. I'll stimulate the underground economy.
On Capitol Hill, Democratic leaders pledged to cooperate with Bush and congressional Republicans. Senate Majority Leader Harry Reid, D-Nev., had criticized Bush on Thursday for deciding to speak publicly on the package before a deal had been struck, but Reid said Friday he was encouraged by the president's remarks.
Here's an economic stimulus package Harry...Bring the troops home tomorrow and save $500 billion dollars this year. That'll balance the budget and leave enough money to double my check so I can send in half a mortgage payment to the predatory banking system.
"Crank this sucker up," Bush exclaimed, an exhortation that could fit his hopes for economic revival, though he was referring specifically to a huge riding mower at Wright Manufacturing. Once the engine was roaring, Bush jumped on and steered the mower playfully.
Despite darkening economic reports, he said that if Congress passes a quick federal relief package, "We're gonna be just fine."
At the White House earlier, Bush avoided the word "recession" but acknowledged the economy was severely strained by the long housing slump and high oil prices.
"There is a risk of a downturn," Bush said.
...Snip...
I will state it more clearly: it is the Home Mortgage crisis that is pulling down the U.S. Economy. Nothing short of a return to New Deal economics will save homeowners,farmers, Investors and global economies of scale for the long term as good ole FDR style bailout of the common person.
Not the Banks...nor the Walmarts...the Common Person!
The proposed band-aid cash rebates are trojan horse short term gifts to bolster consumer sentiment like a shiny new penny in the street gutter. Period. (Oh look! a lucky penny!)
The mortgage home crisis is nothing new to Democrats cleaning up a Republican mess. In the run-up to the Depression, most home mortgages were interest-only loans for five years with balloon payments. This required homeowners to refinance frequently and left them at the mercy of lenders. Sound familiar? The situation is not unlike that of homeowners with subprime teaser-rate ARMs, who borrowed on the premise that they could refinance before the payment increase.
At the urging of President Franklin Roosevelt, the US Congress created the Home Owners' Loan Corporation in June of 1933. "Implicit in the legislation which I am suggesting to you is a declaration of national policy," Roosevelt stated in his message to Congress. "This policy is that the broad interests of the Nation require that special safeguards should be thrown around home ownership as a guaranty of social and economic stability, and that to protect home owners from inequitable enforced liquidation, in a time of general distress, is a proper concern of the Government".
This is the policy that Progressive Democrats should embrace as a long term solution to 30 years of Voo-Doo econmics of the Reagan- Bush eras.
Republican dismantling of the New Deal and it's policies of education, peace, social justice, jobs and social security should be the rally cry of Progressives.
Not all the BS scrolling down the pages of Daily Kos.
"Bleep"
It's been 3 minutes.
Time is up.