Friday, September 9, 2011

American Jobs Act

Bailing out state governments, extending jobless benefits, etc. all seem to presume that, somehow, the U.S. economy is going to return to its pre-2008 growth track and that all we need to do is give it a little help along the way. With each passing month, that seems more unlikely and it might be a good idea to begin adjusting to a more sustainable economy (i.e., one less dependent on credit, finance, and rising asset prices) sooner rather than later.


My thoughts: The cost is being reported as $447 billion. This includes $253 billion in tax cuts. Allowing people to keep money that they have earned is NOT a cost. Spending is a cost. The national debt crisis is a result of of overspending, not under taxation.

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