Despite President Obama’s attempt to bring some level of bipartisanship to the economic stimulus bill, the House Republicans held the party line and to a Representative, voted against it, bringing eleven Democrats along for the ride. While concerns about the staggering amount of spending are warranted, the GOP’s insistence on major tax cuts just shows how out of touch they are regarding the state of our economy. Business is not not going to get jump-started by reducing taxes; rather, an infusion of capital in the form of government grants and bank loans are what’s needed.
In the meantime, thanks to the Bush Administration’s wasteful spending of our tax dollars on an illegal war has redirected resources toward the critical needs of our infrastructure. Without an investment in those key areas, our very national security is at stake. Why not use the money we give to Washington to embark on those shovel-ready projects while at the same time employing those that suddenly find themselves on the unemployment lines? Seems it worked pretty well for a guy named Franklin Delano Roosevelt, another Democrat who followed a failed Republican Administration.
Welcome to the New Deal 2.0 – and let’s wish all of us the same success the first one brought us. Without that FDR’s bold approach, we’d be a much weaker nation even today.