Thursday, February 5, 2009

Productivity vs. Pork

Congress has proven, once again, to be incapable of learning from previous mistakes and following President Obama’s rhetoric of “change we can believe in”. Instead, they have resorted to loading the bill with pork and special interest favors while largely ignoring the President’s requests for investments in infrastructure.

The only way to improve the standard of living in America is to make investments in our infrastructure. Investments in utilities, roads, bridges, and energy efficiency will pay dividends for generations as we reap future productivity benefits, reduced dependence on foreign oil, and more efficient utilization of resources. President Obama has emphasized such investments as a vehicle to stimulate the economy and create jobs yet Congress has largely ignored his guidance and has chosen to feast upon the fear and discontent of the American people to push through their social agenda. The pet projects and special interest handouts would quickly be defeated except for the over-hyped sense of urgency that enables these amendments to largely evade rigorous scrutiny.

Continued stimulation of current consumption on frivolous items rather than investing in our future sounds more like business as usual rather than “change we can believe in.”

5 comments:

StupifiedByNatesStupidity said...
This comment has been removed by a blog administrator.
StupifiedByNatesStupidity said...

Bill Gross disagrees. He thinks that economies are revived by crowding out private investment with government debt.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aisUgNlpOK.Y&refer=worldwide

theOrange said...

"You know, attacking Iran is a shovel-ready project. But I wouldn't recommend it." -- Robert Barro

If we are just interest in blowing money, I'd recommend a full assault on Tehran.

LethalTater said...

If anyone thought there would be "change you could believe in", they were taken in by blind faith. Granted, "change" can also mean change for the worse.

Government, the God that really lets you down.

zVD3jGUStosGQ5NW3ssBUpAoJq0- said...

I would merely add that it is extraordinary that a popular new president, confronting a once-in-80-years’ economic crisis, has let Congress shape the outcome.

- Martin Wolf, FT

http://www.ft.com/cms/s/0/9ebea1b8-f794-11dd-81f7-000077b07658.html?nclick_check=1