The Stimulus May Actually Prolong The Recession

The Democrat-controlled Congress now seems hell bent on passing this stimulus package. It seems to me that they simply picked a number (around $800 billion) at random and have just been throwing any programs they can think of into the mix until they reach that magic number. While I commend the House Republicans for standing against the bill and for the Senate Republicans working to get the size of the bill down somewhat (though, only by about $100 billion), this bill still is too much too quickly. I was not a supporter either of the first $700 billion bill that was passed in the last months of the Bush administration. What needs to happen right now (the "idealist" inside of me now speaks) is to wait and see the effects of the first bill. To be honest, I am already beginning to see the beginning signs of a recovery, and the government may actually wind up killing that recovery if it does too much.

I would like to leave you with a quote from Dr. William Wirt who was the Superintendent of Schools for Gary, Indiana in 1933. He recounted (in a hearing under oath before Congress) a dinner-meeting he attended with several Roosevelt administration officials and their strategy to deal with the current Great Depression. See if this doesn't remind you of today:

"I was told they believe that by thwarting our then evident economic recovery (in 1933!!!!)
they would be able to prolong the country's destitution until they had demonstrated to the American people that the Government must operate business and commerce. By propaganda they would destroy institutions making long-time capital loans -- and then push Uncle Sam into making these loans. Once Uncle Sam becomes our financier he must also follow his money with control and management."

So, the economy was already beginning to recover by 1933, huh? And the stuff done by Roosevelt helped to prolong it...whether by intent or accident is not really relevent. The point is that we must not repeat our past mistakes. Stay on your Congress-members and Senators and tell them "NO!!!!".