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Hitori Dake no Renga - Light My Fire (44)
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(IMG) panel-44.jpg
And now, the news. The bill on President Obama's desk (or shortly
to be, as this entry goes to press), ostensibly an economic
recovery package, has a total price tag of $787 billion. That's a
lot of bake sales.
In the Wall Street Journal's breakdown, there are certainly many
items that could be considered stimulus, such as approximately
$290b in tax cuts and around $35b in transportation and public
works grants depending on what you count. I'm not going to get
into the social and assistance spending as good or bad; it should
be pointed out that quite a bit of the rest of bill also goes to
various entitlements, individual unemployment/health benefits,
various program grants (with, yes, earmarks), and a long list of
pent-up projects that will now be funded. Needed or not, it's
hard to call some of that stimulus.
This sort of spending skyrocket isn't just this administration's
doing; we still have the $700b TARP bank program from President
Bush, which still has more distributions to make. Already there
are rumblings, including from Obama himself, on what to do with
this deficit, and that's not going to be pretty. Everyone wants
something done, just not that same something; what I'm starting
to wonder is, is there such a thing as doing something for the
sake of doing it and damn the consequences? Even heavy, pure tax
cuts have an immediate cost and we can't print dollars forever.
Are we sure that any quick, massive action of this scale won't
make things shakier?
Nevertheless, for better or worse, the bill is on his desk and
guaranteed to be signed. We shall see.
That is a real $1 bill on fire (slightly retouched), and my hand
trying not to get burned. It cost
(IMG) eight dollars
to get the picture right. I did it in my bathroom in case there
was, let's say, an accident.
Copyright 2009 Cameron Kaiser except noted. All rights reserved.
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