On That Rick Santelli 'Rant Of The Year': What's The Multiplier For Government Spending?

I agree with Rick Santelli

Matt,

Try selling this somewhere else. Too many of us have seen the bologna that is in this "stimulus" package. If you want to create jobs - offer a tax credit to companies for each job they create. If you want to save the stock market - eliminate capital gains tax - which is a way to tax my money twice anyway. If you want to stimulate the housing market - offer a tax credit to EVERY home buyer and not just first time buyers (many of which will be high risk debt I expect). I have no issue with bailing out banks as long as we stop the foolish programs to encourage poor people to borrow money they can’t pay back. In the end, I bet all of these things could be accomplished for a fraction of the cost of the stimulus package. The LAST thing we need is expanded social programs we will never be able to cut back. Economics is all about incentive. We need to incentivize the right behaviors. The Obama plan incentivizes dependency and foolish borrowing. And how about that Octo Mom. Somehow she can afford two in-vitro procedures, plastic surgery to look like Angelina Jolie - but I need to pay for her rent and food.... Only in America. And here is another way to rescue the economy – stop providing health, education, and social welfare benefits to illegal aliens! Enough is enough…. The bottom line is that the things Obama is implementing are morally wrong. Stealing from some to subsidize others, ramming pork and paybacks through as stimulus, and the media acting as Obama's defensive team - blocking all would be tacklers. Shame on the mainstream media. You have no integrity.

JT

JT of TX @ Feb 23, 2009 00:26:41 AM