The Only Stimulus Package That Will Work

An economic emergency? Yes. Time to take action now? Yes.

But not the kind of action Obamalicious is calling for. Exactly the opposite: Not more deficit spending, but less; not more taxes, but less, for ALL Americans; not more individual welfare, not more corporate welfare, but less.

Don't just cut taxes for 95% of America. Cut it for everyone. Repeal the capital gains tax. The result? Everyone is free to invest and spend and save as they see fit. AS THEY SEE FIT! Interesting concept. No imperious overlord standing by to force us where to put our money. Actual monetary freedom.

How do we pay for all this then? By taking every bureaucratic wealth redistribution scheme that has been created in the last 70 years and repeal them all. We'll start with the most current ones and work backwards:

• Repeal the recent $700B bank bailout
• Repeal Bush's prescription drug bill ($120B)
• Repeal Medicare and Medicaid ($580B)
• Repeal Social Security ($560B)

And in addition, repeal every statist, restrictive law that has come into being since the 70's, such as the Community Reinvestment Act, which had a hand in causing this recession, and Sarbanes Oxley, the IPO inhibiting monstrosity that got passed after the Enron-WorldCom debacle.

It's a simple, two part plan, really. The government should:
1) Cut the hell back
2) Leave my money alone

Obviously it would take years to dismantle these huge entangled bureaucracies, but it needs to happen. Most of the entitlements people get from Social Security and Medicare are immoral anyway, and those that aren't can be made through the private sector, and done cheaper.

This guy lays out the numbers pretty well of what our debt would be if the stimulus plan passed.

Trillion-Dollar Spree Is Road to Ruin, Not Rally: Kevin Hassett

We are in the midst of a crisis caused by so many financial institutions borrowing too much money. Somehow, a critical mass of policy makers now believes that the correct response is for the U.S. government to borrow too much money.

He talks about a couple senators that are trying to trim back the budget, but no specifics yet on where. The Senate press release he links to is a year and a half old, but it's still the right idea.

Now is the time to address the unsustainable shortfall between our expected revenues and the trillions we know we will be spending for federal health and retirement programs.

Screw these Keynseian economics theories. They say more and more deficit spending will bring back the economy. If deficit spending is the path to economic nirvana, then that means with all the deficit spending we've had in our lifetime, everything would be puppy dogs and unicorns by now. But it's not. Keynes sucks.