Link to the House bill.
$819 billion which is almost equal to the cost of an entire year of federal spending according to Wall Street Journal.
The Senate bill version is almost $900 billion at the time of that article.
We know that the no Republicans voted for it in the house version. My question is where were they on the bailout? Are they suddenly supporting fiscal restraint since their guy didn't win? Don't get me wrong, they need to oppose this to the grave and they need to oppose it in the senate. But that's from my perspective. Democrats should also be opposing this and taking into considerating the effects of such excessive spending.
Let me tell you what happens when the government's goal is to "create more jobs." Big fat bureaucracy that grows and grows and grows. How is that being fiscally responsible with the tax payers dollars? I'd rather leave it to the private sector to create more jobs by cutting corporate taxes. At least that doesn't cost the taxpayers anything. Right I know "big evil corporations" we have to "stick it to them." The US has one of the highest corporate tax rates in the world. I think we could afford to put this theory to the test.
It's important for us as Americans to know what's in the bill. I know what you're thinking, "it's really long!!!! How am I supposed to get through that?" Find summaries of it. The above link to the bill will bring up a table of contents that you can go through and look for sections of interest. Also the above link as the letter from the Congressional Budget Office that discusses the estimates of how much it will cost. Let's remember that's just an estimate. Leave it to the government to reserve the right to let spending get out of control.
I am of the view point that the government needs to stay out of the economy to let it recover and instead work towards paying off the national debt and encourage policies of personal responsibility and minimal debt, thereby setting an example to the general public.
Just remember if the strong middle class becomes dependent on the government, they are no longer strong. The government has succeeded at making them weak, ignorant, and oblivious. If we want to maintain a strong middle class, we must take personal responsiblity to stay educated and to fight government intrusion in our lives.
I know this is not eloquently written today, but I wanted to bring up the topic to encourage discussion and to encourage you all to write your Senators to let them know your opinion. Even if you don't agree with mine.
Please take the time to vote in the poll on the left as well. Previous poll results can be seen below.