Wednesday, June 9, 2010

Will The Government Stop Wasting Our Money? (economics/politics)

Everything the government has done has been to throw away money.

Job creation? This isn't creating government jobs like back when we built the highway infrastructure. We're essentially paying private companies to pay us back in wages, losing money along the way.

Cash for clunkers? Making people take on more debt to help the auto industry which doesn't look like it's repaying our "loan" anyway.

Home buyer credit? From the expiration of the tax credit to now, the mortgage rates have gone down so much that I wonder if the home buyers lost money in the turnaround. So who made that money? The loan originators getting the propped up rates. The banks.

The biggest injustice I feel that occurred during all of this was the government's inability (or just lack of trying?) to negotiate at all. They had to pay out AIG's creditors in full? They couldn't get any of the unions (auto workers, civil servants) to back down? Pathetic! And then today I'm watching more stupid "hearings" on CNBC and one of the old guys goes, "So if this Congress hadn't acted in the way it did..." like he was still looking for a pat on the back!


Memphis MOJO said...

We like to brag that we are the land of the free. But! Our political system is broken and I don't see any way to fix it.

(P.S. Our judicial system doesn't work very well, either.(

Memphis MOJO said...

If you wonder why I am cynical about the political system, see this:

The Pretender said...

I've always thought that the systems were broken, but I think more of a consequence of the people who've been running it into the ground.

I feel that the main problem in the US has always been one of enforcement, whereas in other places it's a problem of the actual laws and ideals.