Posted by
Jon on Thursday, July 09, 2009 11:36:30 PM
Come on, Warren!
A second stimulus might be needed???
What do they call him, "The Oracle of Omaha"?? Can he not tell that the first stimulus is not working?
An
illustrious businessman like Buffet should be able to see the clear
inefficiencies in the way the stimulus is being implemented. What's
better:
a) allow people and businesses to keep their money and spend, invest or save as they see fit.
or...
b)
take the money from people and businesses, send it to Washington, then
send it back to Denver, and then doll it out from Denver (or whatever
state capitol pleases you) to the hinterlands, supposedly back to those same people and businesses
Why isn't this
obvious to the casual observer? More to the point, why isn't it obvious
to an alleged genius like Buffet, or the brainiacs in Washington?
Actually, Buffet himself implies the correct answer. The first stimulus
was half stimulant and half "candy." He knows it, yet seems to think
that even more of the same is the answer to the problem... how can an
evidently smart man believe that the government will get it right the
second time??
And, let me add this: we've spent most of the past
several decades having it drilled into us that education is key in our
burgeoning "information society." A highly educated workforce is the
key to competing on a global scale, right?
Then, why in the
world would anyone think that "shovel-ready projects" are the way to
stimulate us out of a deep recession? The American workforce is well beyond
shovels and manual labor. Obama is living in the 1930s!!
Our
economy is so diverse today, there is no way a series of government
projects can stimulate widespread growth. It must be achieved by
broadbased tax cuts. Must!