Fixing the Economy, Part II

by Bob Pappas

Let's make certain we understand Obama correctly to the effect, "the country is doomed if the stimulus bill is not passed." In a true spirit of bi-partisanship, "the messiah" told the world that the whole mess was the Republicans fault with "a red ribbon" tied around it. Of course, Democrats hands are "clean" despite the fact that it is they who were responsible for the Sub-Prime Mortgage debacle, obstructionists in the regulation of Wall Street, and first at the tough in the TARP.

Look "slick" you wanted the job, you got the job and now quit whining when it turns out to be harder than you thought. Waving your arms, reading a teleprompter and maligning Republicans may be your bi-partisan effort to fix the problems, but you are wrong. Obama told the lemmings that he would "totally change the economic system." One can easily see that is trying and so far he gets a grade of "F."

Below, quoted from National Review Online are fifty items by category and reflect the ''American Recovery and Reinvestment Act of 2009.'' By clicking on an item you can see it in more detail.

"VARIOUS LEFT-WINGERY:

1. $50 million for the National Endowment for the Arts.
2. $380 million in the Senate bill for the Women, Infants and Children program.
3. $300 million for grants to combat violence against women.
4. $2 billion for federal child care block grants.
5. $6 billion for university building projects.
6. $15 billion for boosting Pell Grant college scholarships
7. $4 billion for job-training programs, including $1.2 billion to provide "youth" summer jobs for people up to the age of 24
8. $1 billion for community development block grants
9. $4.2 billion for "neighborhood stabilization activities"
10. $650 million for digital TV coupons, including $90 million to educate "vulnerable populations"

POORLY DESIGNED TAX RELIEF:

11. $15 billion for business-loss carry-backs
12. $145 billion for "Making Work Pay" tax credits
13. $83 billion for the earned income credit

STIMULUS FOR THE GOVERNMENT:
14. $150 million for the Smithsonian
15. $34 million to renovate the Department of Commerce headquarters
16. $500 million for improvement projects for National Institutes of Health facilities
17. $44 million for repairs to Department of Agriculture headquarters
18. $350 million for Agriculture Department computers
19. $88 million to help move the Public Health Service into a new building next year
20. $448 million for constructing a new Homeland Security Department headquarters
21. $600 million to convert federal auto fleet to hybrids
22. $450 million for National Aeronautics and Space Administration
23. $600 million for National Oceanic and Atmospheric Administration
24. $1 billion for the Census Bureau

INCOME TRANSFERS:
25. $89 billion for Medicaid
26. $30 billion for COBRA insurance extension
27. $36 billion for expanded unemployment benefits
28. $20 billion for food stamps

PURE PORK:
29. $4.5 billion for U.S. Army Corps of Engineers
30. $850 million for Amtrak
31. $87 million for a polar icebreaking ship
32. $1.7 billion for the National Park System
33. $55 million for Historic Preservation Fund
34. $7.6 billion for "rural community advancement programs"
35. $150 million for agricultural commodity purchases
36. $150 million for "producers of livestock, honeybees, and farm-raised fish"

RENEWABLE WASTE:
37. $2 billion for renewable energy research
38. $2 billion for a "clean-coal" power plant in Illinois
39. $6.2 billion shall be for the Weatherization Assistance Program
40. $3.5 billion shall be for energy efficiency and conservation block grants
41. $3.4 billion shall be for the State Energy Program
42. $200 million shall be for state and local electric-transport projects
43. $300 million shall be for energy-efficient appliance rebate programs
44. $400 million for hybrid cars for state and local governments
45. $1 billion for the manufacturing of advanced batteries
46. $1.5 billion for green technology loan guarantees
47. $8 billion for innovative technology loan guarantee program
48. $2.4 billion for carbon-capture demonstration projects
49. $4.5 billion for electricity grid

REWARDING STATE IRRESPONSIBILITY:
50. $79 billion for State Fiscal Stabilization Fund";

Contact your Senators and tell them to vote against the ''American Recovery and Reinvestment Act of 2009,'' and enact legislation that truly stimulates the economy a partial list as shown below and would provide immediate economic stimulus: You and I can do a better job of it.
1. Given the lack of fundamental moral and ethical basis on which the Federal Government should Adopt and implement a national code of ethics and morality to be taught in all schools. Nothing else absent such an action will provide the necessary support for a vibrant economy. One look at the damage done by an overreaching Congress, Wall Street greed, sub-prime borrowers, Fannie Mae and Freddie Mac lenders, and one can see that there were layer upon layer of unethical and immoral behavior.
2. Eliminate payroll/income taxes. i.e. repeal the 16th Amendment.
3. Limit Federal Government functions to National Security; International Relations; Promoting the General Welfare (In this context it means creating an environment where people can flourish, not handouts); Exploration and Development of Outer Space and Commerce; Interstate Commerce; and, Exploration and Development of Oceanic Resources.
4. Eliminate unnecessary, unproductive and overreaching government programs.
5. Divest all Federal Lands to the States with the exception of those lands necessary for Federal Government Functions.
6. Eliminate the practice of Budgetary Earmarks.
7. Cut unconstitutional, that is anything not specified as a function of the Federal Government in the Constitution.
8. Mandatory Federal Government compliance with the Ninth and Tenth Amendments.
9. Replace all Federal Acquisition Regulations with "best value" procurement procedures.
10. Eliminate all Federal Reports. Replace with periodic onsite examinations.
11. Enact a national sales/excise tax on all interstate and international commerce to support the Constitutional functions of the Federal Government.
12. Given that gains in value of stock is not earned income and stock trading is nothing more than a form of "gambling" gains offset by loses would be taxed. Zero taxes on long term gains, i.e. more than five years with a sliding scale to 85% taxes on gains for stocks held for less than six months.
13. Limit Margin "gambling" by requiring at least 85% of personal funds in Margin trading activities.
14. Restrict publicly traded CEO compensation to salary remuneration, and strictly limit stock options so that CEOs will have incentive to improve Company performance not "stock's performance."
15. Restrict social and health funding to American citizens who have earned it through career length military service or other career length federal government service where reduced compensation for that service was received in exchange for future benefits; or, otherwise paid for it; and, bona fide emergencies.
16. Eliminate ILLEGAL immigration. Notify all ILLEGAL immigrants that they have one year to register with the INS and two years to depart the U.S.
17. Given the unpopularity of US forces abroad, immediately bring them home and station them on the border with Mexico and at all ports of entry to stop drug and human trafficking as well as ILLEGAL immigration.
18. No tax breaks for US companies owning and/or operating manufacturing facilities overseas.
19. Tax breaks for all companies that increase capacity or establish businesses in the U.S.
20. No Mortgage lending without a reasonable expectation of repayment.
21. Government is not the solution, never has been, never will be, it is the problem, and operates without any substantive accountability. Therefore, keep all Government out of the way of economic development, except as essential to the protection of consumers.
22. Develop alternative sources of energy, including nuclear, geothermal, wind, oceanic, tidal, solar, and excluding ethanol, the purpose of which would be total energy independence within five years.
23. Invent and install a new power grid in three years.
24. Develop high-speed rail service between the states with a terminus as desired by the respective state (states would be responsible for internal rail development), within five years.
25. Upgrade all control equipment for Inter-State ground and air transportation to state of the art, renewable periodically for safety, efficiency and/or cost effectiveness.
26. Refit the Armed Forces to 21 Century vision, equipment, and strategies within five years.
27. Establish a permanent forward operating base on the Moon within 7 years.
28. Begin human exploration of Mars not later than 2020.


If Washington has the vision and leadership to embark on these admittedly limited objectives, trust me, the economy will not only improve, it will flourish.

Semper Fidelis

Copyright © February 7rd, 2009, by Robert L. Pappas. With proper attribution, this essay may be quoted and redistributed. It may not be used in any way, in conjunction with any advertisement without the author's expressed written permission.