quote from my comment below: If the idea of a stimulus III is wrong, note that FairTax, of it's own action, will bring this nation back just by the confidence it will provide in enactment.
Tuesday, July 14, 2009
Editorial: Obama's stimulus plan is not working
Plan to spend the nation out of recession isn't stimulating the economy or creating jobs
The Detroit News
President Barack Obama's plan to attack the recession through massive deficit spending is not producing the results the president promised in February when he convinced the American people to go deep into hock in the name of creating jobs and boosting economic growth.
Obama is well into spending the $787 million approved by Congress for his stimulus programs, and yet the unemployment rate is still climbing and economic recovery remains elusive.
Administration economists projected that the huge influx of borrowed federal dollars would keep the national unemployment rate from breaking through the 8 percent mark. It stands at 9.5 percent today and is still rising
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my comment:
Cancel first stimulus, the bailout. Cancel stimulus I. Then retrieve what funds not allocated.
Send out stimulus III to Head of household mortgage. If no mortgage, send to local bank HSA/IRA for each adult. If you send $15,000 per adult (children considered one adult)it will cost approximately 3.75 trillion dollars. Sure it will inflate the dollar, but at least there will be a dollar to inflate and a future to correct.
To correct our future, make manufacturing a fair trade platform by removing the excise production tax and replacing our IRS with the FairTax Plan. That will create many jobs, provide middle class, and lower, with a huge pay raise by providing gross pay paychecks. We need this to offset the coming inflation already being created by Federal spending.
Then set up a Constitutional review by States control, reviewing Federal practice, to include commerce clause, social spending, eminent domain, federal property ownership,control of a State's resources,etc.
Drill here, drill now!!! Carbon is our friend!
If the idea of a stimulus III is wrong, note that FairTax of it's own action will bring this nation back just by the confidence it will provide in enactment. It will take longer though. By distributing to every household, you meet the threshold of equal treatment by the term "General Welfare".
FairTax NOW!!!
R. George Dunn
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