Democrats

Just Who Are Politicians Bailing Out?

January 23, 2008 ⋅  E-Mail Article ⋅  Print Article ⋅ Post a comment

You may be going broke at breakneck speed and you may be unable to feed your family or pay your mortgage but do not worry, the major oil companies are expecting record profits and the Asian stocks are on the rebound, now don’t you feel much better? And did you notice there is all this talk about stocks, how about talking about putting food on the table and afford gas in the car? Is the economic stimulus just a tool to save the rich and their investment stock portfolios? How dare our government allow us to be in such a lopsided trade position and then to top it off they want to add to our federal deficit by giving us more money to spend on imports. Someone needs to tell the idiots in Washington that if you feed a man he eats for a day but if you teach him to fish he eats forever. Rather than give us money to spend on imported goods why doesn’t the government give businesses and new businesses immediate tax breaks or let the government use this money to create government jobs or for business loans dedicated to companies who open businesses right here in the United States. Federal Reserve Board Chairman Ben Bernanke’s assured us last May that the subprime mortgage meltdown would be contained and not affect the broader economy but it seems he missed the target and now many others in Washington are missing it as well. Treasury Secretary Henry Paulson is about the only one who really understands the problem facing our economy and he is addressing it by having spent most of the past year trying to influence Chinese economic policy. However, whether or not we affect Chinese policy we need to affect American policy. We need to punish imports and instead promote businesses building goods right here in America. We need jobs, not spending incentives. What good does it do to just spend money on imports; the money goes right out of our economy and into foreign economies. We need jobs here, which create goods here, which are bought here. Economic stimulus packages will be inadequate to drive sustainable growth in our economy and the Fed rate cut and an economic stimulus plan are short-term responses to a much more complex economic problem. And for the idiots who say we need a free market, did you idiots notice that the trade debt has been growing faster than our national debt? We as consumers spend most of our money on foreign imports and the proposed stimulus package probably would be stimulating foreign economies rather than our domestic economy. It’s plain and simple, we needs jobs in America and that is the only way to successfully address this economic crisis.

ConocoPhillips is the nation’s 3rd largest oil company and they are about to post a 37 percent increase in profits for the fourth quarter, thanks to higher energy prices. Exxon Mobil, the world’s largest publicly traded oil company, is reportedly close to setting an all-time profit record from earnings, they just set the record last year. Analysts believe that Exxon could end up reporting the highest profit ever for a U.S. company, and you are worried about just keeping your house at 60 degrees and your gas tank half full. Chevron will be reporting soon and they are expected to also report gigantic earnings. So you can send your money overseas or you can give it to the big oil companies, what a choice. However, you do have a third choice, make your politicians enact tax legislation that makes America competitive and job friendly.

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