Unchecked government spending is driving good people to tea bags
Today, there will be tea (taxed enough already) parties across the country. Maybe, just maybe, the bailout and stimulus trillions, which will translate into future tax hikes, are rubbing a bunch of folks the wrong way. A sleeping giant has been awoken.
The tea parties find their roots in the original tea party in Boston harbor in 1773 and are meant to attract people from across party lines to protest the over-the-top government spending in recent months.
Congressional Spending continues to rise
According to a new report from Citizens Against Government Waste (CAGW), Congressional pork spending is actually up again in total dollars. For 2009, spending is up $2 billion. Americans who are attending the tea parties are saying, ‘we’re fed up and we’re not going to take it anymore.’
The government has spent trillions of taxpayer dollars between the bailouts, stimulus package and Omnibus spending package. Much of this has gone towards pork projects and squanders the hard-earned dollars that tax-payers entrust to the government. When the economy needs a true stimulus to bring back lost jobs and stimulate bank lending, the government has instead wasted trillions on pet projects and special interest group payback.
This is democracy bubbling up. It is indicative of the very roots in the term ‘grassroots.’ Average Americans are getting very concerned and annoyed about unchecked spending, and the Congress and the administration, have to reel it in. The bailout and the omnibus spending bill and the stimulus package all translate to an enormous deficit that straddles future generations with more encumbrance and means higher taxes in the not-too-distant future.
Tea parties – a reaction to bailouts and more
Thousands turned out at approximately 700 Tea-Party events across the nation. After TARP1 and TARP2, and the bailouts of the domestic automakers and Citibank and AIG and the Omnibus spending bill and Stimulus bill, it has simply become too much for taxpaying Americans. Many attendees braved bad weather to hear the featured speakers.
According to the American Enterprise Institute, just to pay interest on the administrations’ 2010 budget, those who are currently twenty will have to pay over $ $114,280.72, if they work until 70. That does not pay down principal. If interest rates increase to just 8%, that debt to people under 30, will triple.
April 17th, 2009 at 7:37 am
Ok,
In a nut shell.
The best idea for a stimulus, bailout is to give the adults of today(18 and up) an allotted amount of money in an equal share. The amount could be 100,000 to $500,000 dollars and this is all that’s needed to be “bailed out”. The monies would be used to pay off loans of all kinds, from houses to student loans to taxes owed. What ever loans a person has.
The banks would recover because the loans would be paid off.
The Auto industry would recover because people would be buying again. The influx of money into the economy would put the unemployed out of the system and might even create jobs due to the ability of inventive people to get patents on their ideas. The world economy would recover because people would be once again trading with our foreign friends.
So instead of triing to bail out all these companies and businesses that will fail anyway without a true shot in the arm. I say do what’s right for “We The People”.
Now, this action will zero out our economy and we can truely get back on the road to recovery. When i say zero it out we would still have a debt owed to those we have already barrowed from. However with the economy booming once again it wouldn’t take long to turn that around also.
The down side to this whole thing——–Gee can’t think of one can you?