The economy has been showing signs of turning around and yet only a small percentage of the funds from the Reinvestment and Recovery Act have actually been spent. The economy has been turning around on its own as the banks and mortgage industry are slowly trying to get their act together. So why did we appropriate billions of dollars and tack on 780 billion extra dollars to our national debt if it wasn't going to matter anyway? A better question is why are we still going to allow all of that money to be spent if the economy is already getting better on its own? Most of this money won't even be spent until 2010, and most economists are saying our GDP might be back into the black as soon as the third or fourth quarter of this year.
Additionally, with the current proposed budget, our government will have to borrow 50% of every dollar they spend. Meaning they are spending twice what they take in. Pretend you make $50,000 a year at your job, but spend $100,000 a year to live. You're living well beyond your means just like our government. We absolutely have to address failing banks, a broken health care system, global warming, etc..., but we cannot afford to tackle all of these problems at once nor can we afford the cost. We have to strategically go after each of these problems and create solutions that are smart and affordable. The only solutions currently proposed are all the same, throw money at the problem. True reform does not necessarily have to cost more money, it could just be changing the way our system works. Reforming how we regulate lobbyists, banks, and pharmaceutical companies. Not every solution has to come with a fancy program name and be allotted an annual budget of billions of dollars. Why can't we just fix the system we have instead of continually making new departments and making the government even bigger than it already is?
GM is on the verge of bankruptcy. I'll say this one more time, let them go under. If a company cannot turn a profit then they need to close their doors. Whether it's because of labor costs or a broken business model, it doesn't matter. A company cannot perpetually operate in the red. It's just unfortunate that we had to waste tons of money trying to keep them afloat until finally they came to the same conclusion that people with any common sense have, which is that they need to declare Chapter 11 and either reorganize into a profitable company or close its doors forever. I would love to see America back on top of the car industry, but that is not going to happen by our government propping up crappy companies nor taking them over. If there is a demand in this country for cars to be produced and sold locally then someone with a vision will start a new kind of car company and fill that niche. The dinosaur car companies like GM and Chrysler lost their edge and failed to stay current with the market trends so now they have to pay the price. I hope that some day, people with a great new idea wanting to make some money will start a car company. And if it is a good product I will buy it. But you can't expect people in this country to continue buying crappy products soley in the name of patriotism.
Call your Congressman, tell them to 1. Stop the spending and 2. Balance the budget.