Found an interesting article today from www.speaker.gov (Nancy Pelosi's Website). Obviously enraged by the Republican attempt to stop the latest unemployment benefit, Pelosi and her band of merry "economists" let the public know that those unemployment dollars filter back through the economy. No comment from ultra-scientific publications "Duh! Weekly" and "No Crap Magazine." Of course money that is given to people filters back into the economy! Bush recognized that fact which is why he created his tax cuts and did his best to keep them going. But I digress.
Let's get a few things straight...
Money in the hands of the people will always stimulate an economy because people spend money. Whether it's groceries, rent, insurance payments, televisions, etc. Anytime people have to pay for things, the economy is stimulated because when the consumer buys, the producer benefits.
What I find funniest...
First of all the Unemployment Extension bill is referred to as "job creation legislation." Classic.
Second, Nancy Pelosi admits that putting money in the hands of people will stimulate the economy. So why let the Bush tax cuts expire? Isn't that "money in the hands of the people?" And before you answer "Well those tax cuts go to rich people" just keep in mind 2 absolute facts.
1. Rich people probably employ you. Taking their money away makes them less likely to be able to employ you.
2. Rich people spend money, too. Money that stimulates the economy. In fact, what distinguishes rich spending from poor, unemployed spending is that rich people usually spend more.
So shut up, Nancy... you are trying to politicize unemployment for your own doomed gain. Plus, you're an idiot. Go get some more botox and leave the decisions to the grown-ups, mmmmkay?
Now for rambling in-coherencies...
I was watching C-Span a few weeks back and I noticed something. They were in the House Financial Services Committee, talking about some fiscal bills that they were going to need to have passed. All of the Republicans at the table were wearing neatly pressed suits, had their hair combed and sat upright. The Dems, on the other hand, looked like a bunch of slobs. They had disheveled hair, wrinkled clothing, askew ties (when they were worn); almost like they weren't taking things seriously. Plus, whenever the Republicans brought out an argument, it was full of references, fact, charts, and citations to which Barney and his pals always responded with statements akin to "I know you are, but what am I" and "well you did it first!" and the ever classic "Nuh-uhh!" The poor GOP representatives spent a lot of time just shaking their heads. It actually would have been pretty comical to watch if it hadn't been so sad.