The US deficit is a monstrosity. I don’t subscribe to the notion that owing money is ‘the American way’. If we must have an economic stimulus package, it should
address some of our current problems instead of giving an across the board, meager handout to the middle and upper class. One critical example is funding clean alternative energy solutions.
Let’s say I am deep in debt. Would you suggest I borrow more money? That seems to be what the US government is doing. Our huge US trade deficit spending cannot go on forever. Eventually, someone will have to pay.
Giving $50 billion to businesses is lunacy. CEO’s ‘legally’ steal billions every year using ‘stock options’. They buy company shares at $5 and sell them the same day for $50. For some details on this immoral behavior see: http://www.corpwatch.org/ . Where does this money come from? It can’t just appear out of thin air. It must be related to low worker pay and lack of benefits – such as health care.
I know the opposition will lament: business rebates will create jobs. I think the ‘trickle down’ theory basically means ‘you can eat the crumbs that might happen to fall under my table’. Will any jobs created be decent paying careers for Americans? US Capitalism should not degrade into merely platinum collar theft.
