I admit to not being the smartest person in the room when it comes to economic issues. I do think I have a decent grasp of how things basically work. I do not understand how what our present government is doing is going to help in the long run.
I suppose this may be part of the problem we have become a society that does not want to be troubled with the long run but with the immediate.
It is a bit intimidating to me when a few months ago our government would speak in terms of billions of dollars and we would all be a bit taken back and now to think we are speaking in terms of trillions of dollars.
How much will we end up spending? Today I heard the amount of $3,000,000,000,000, yesterday I read where someone was suggesting it could end up being $9,000,000,000,000 (trillion) A trillion is a one with 12 zeros behind it. Does anyone really know how much money that is? I really doubt it.
What is scary is we don't have (lets just split the difference) $6,000,000,000,000. Last year we spent approximately 2.8 trillion dollars in the Federal budget. Now we are talking about the possibility of spending twice that outside the normal budget expenditures. We don't have the money. In 2008 the federal government spent 2.5 billion more than it took in. We are all aware of our governments penchant for deficit spending. Last year we spent 2.5 billion more than we had and now we might spend $6,000,000,000,000 more outside the budget. Am I the only one who wonders about the wisdom of this? We don't have the money!
So we spend it, we go into debt? Where does the money come from to pay the debt? The Federal government. Exactly but that answer shields us from a sober reality. Where does the Federal government get its money? What does it manufacture? What marketable, profit generating service does it provide? It's primary source of revenue is taxes. From whom do they collect the taxes? The American people. So all of this money they are borrowing to help us is simply ensuring that we will be indebted for years to come. They spend the money to help us then a few years down the road they will be coming back to ask for the money back with interest. And, the reality is we will not have a choice thanks to payroll taxes. They get their money before you even see it.
They are spending all this money to supposedly stimulate the economy. In a few years they will come to that same economy and take the money out with interest, and what if it does not work? Now we have a bad economy with a $6,000,000,000,000 debt. I don't think it will work. I am not convinced.
These unemployment statistics from the Depression are interesting.
Does anyone really consider an unemployment rate going from 24% to 14% a success. Especially when the unemployment rate in 1929 was 3%. And you will notice that just before the War the unemployment figures had started to go back up.
I have believed for a long time that it was not FDR's New Deal that ended the depression but World War II. I don't think the government can spend us out of the present difficulty.
I am not fooled by all the talk of oversight. No one, not even the Federal government has the capacity to oversee the spending of trillions of dollars. They will probably think they have really exercised oversight if they can account for the money in increments of billions of dollars. That leaves a lot of room for corruption and misuse of funds.
I'm probably all wet behind the ears when it comes to these things but I do not think what our elected officials are doing is best for the country.
By the way, I know lots of people have lost their jobs. But........when did people start looking to the government to make sure they had a job? I am also afraid that as we become increasingly dependent upon government we will find ourselves increasingly ruled by tyrants. Everything the government provides increases it authority to dictate, and that is exactly what dictators are very good at.
Oh, yes did you notice that the state of California is not sending its citizens their tax refunds at this time? Proof of what I have been saying for several years. Your income belongs to the government. Taxation of income is not about what they take it is about what they let you keep. Don't think for a minute that there are not those in all levels of government who are not watching to see if Californians take this lying down. I am afraid they will and those who want to enslave us will be emboldened.
Even so, Come, Lord Jesus!