Sunday, January 11, 2009
Maybe some hope yet !!!
The best news of last week is that even some of the Democrats are starting to push back against Obama's stimulus plan. News is that some Dem's don't feel his plan of building bridges will have enough immediate impact on the economy. There is also talk that Obama may leave the tax rates unchanged for now. It about time our representatives wake up. It is not the federal governments job to build states roads and bridges ( with the exception of the interstate system). If the states need to build infrastructure then they should pay for it themselves. Same with education. If states want to spend more on education then the people of that state should make that decision and pay for it themselves. We need to slow down on this whole stimulus idea. Americans have just been given a huge stimulus with lower gas prices . Keeping down energy is one of the best ways to help all of us. If energy costs stay down so does inflation. Keeping down interest rates also have a huge stimulus effect on the economy. People being able to refinance at lower rates puts hundreds of dollars in their pocket monthly. Lower rates also will be the long term savior of the housing market. But to keep interest rates low long term we have to cut spending and reduce the deficit. We need to see how lower interest rates and fuel costs stimulate the economy before we do more. Too much and we end up with big inflation down the road and higher interest rates. Tell me what you think !