...Pass This Bill Right Away

I sacrificed otherwise useful time and watched the President's speech to a joint session of Congress. Did I hear anything unexpected? Not really, except for...

“...pass this bill right away.

Claims that everything in his plan would be paid for rang hollow, particularly when he explained where the money would come from: thin air. The so-called “savings” from the debt-reduction boondoggle, really a reduction in the amount of money the government was going to spend that it didn't have, can in no way be considered as a means of paying for the American Jobs Act.

Unfortunately his speech sounded more like a campaign speech than a policy speech, slamming Congressional Republicans for being obstructionist. I think I would be obstructionist too if I knew the 'plan' the President has put forward won't work and will cost too much. (I think Obama defines 'obstructionist' as Republicans who won't do what he tells them to do.)

One thing that clued me in that Obama really doesn't understand why businesses hire was his plan to reduce taxes on small businesses, one cut mentioned being payroll taxes paid by employers, citing the tax reductions as a means to induce businesses to hire more employees. But businesses don't hire employees to get a tax break that won't cover the cost of hiring. Businesses hire when they need more people to meet increased demand for goods or services, period.

While I agreed with him that our infrastructure needs a serious overhaul, I believe it's too little too late. Stimulus 1.0 should have put almost all $878 billion towards infrastructure improvements, not the measly $55 billion actually spent on it. Stimulus 2.0 will be throwing more money we don't have after the original money we didn't have and I think it will have an even smaller effect, except for expanding the deficit.

On more than one occasion he made mention of fairness and fair play. Unfortunately I think his definition of those terms is far different from just about everyone else's. It has nothing to do with equal opportunity and everything to do with equal outcome. Unfortunately he will get his equal outcome if he gets his way, all of it bad.

I think it's about time I start drinking heavily....