Friday, February 6, 2009

"Wanted: Personal Economic Trainers. Apply at Capitol."

The Stimulus legislation isn't quite through the Senate yet, so if you have friends (who haven't lost their jobs yet), who still don't understand what the Stimulus does, writer and Post website editor Steven Pearlstein carefully explains in today's Washington Post: "Wanted. Personal Economic Trainers. Apply at the Capitol. " It's great reading ... absolutely accurate ... and family friendly -- suitable for all kinds of people, whether they are employed, unemployed or just plain stubborn about understanding the need for economic Stimulus.

Pearlstein's "must read" ends with a quick and easy but very accurate definition of economic stimulus:
"Spending is stimulus, no matter what it's for and who does it. The best spending is that which creates jobs and economic activity now, has big payoffs later and disappears from future budgets."
The bottom line: Our economy is in trouble. Number of jobs lost just in 2008 already is as many as were lost in 1945. Lose many more and we'll all be stuck in an uglier version of the Great Depression because the folks that don't want this bill in the Senate are in danger of being called the "Marie Antoinettes" of 2009 -- happily wondering why the unemployed aren't eating big pieces of cake with lots of frosting on them.

One particular "Marie" is Senator Tom Colburn from Oklahoma. Pearlstein reports that one in five workers in Oklahoma are government workers. Yet in yesterday's Wall Street Journal, Colburn complained that one in five of the 3 million jobs that the stimulus package might create or save would be government jobs. We note here that Colburn's job is a government job and so is every one of the jobs his personal staff holds, some of whom are located in Oklahoma. If Colburn is going to look down his nose at government workers, maybe he should resign so at a minimum, he wouldn't be snarling about his own government salary.

But seriously, Colburn and his staff are evidence of the curmudgions who need most the "economic trainers" Pearlstein recommends. But for Colburn ... and other naysayers, too. See below for basics. Read them ... think thoughtfully ... turn off the radio ... this is too important to trust Rush Limbaugh and his pals. Then call your U.S. Senator -- see directions at the bottom of this article.
  1. Stimulus = Spending
  2. The best spending results in investments that stick around for awhile, e.g., roads, sewers, school buildings, transit and high speed rail, medical equipment and more -- all different kinds of infrastructure. To build or repair infrastructure, it takes workers.
  3. The middle class is hurting. Why? ... because as our economy shrunk during the last eight years, they were asked to pick up the slack -- working more, paying more taxes proportionately than the very rich and all the while, finding that with the cheap interest available then, they could balance their budgets by borrowing money. Now the piper has come with higher interest rates, squeezing the very people who paid the bills while the rich danced.
  4. The middle class is hurting. What to do? ... See Stimulus package ... it creates jobs (see #2 -- infrastructure investments creates jobs) and tax breaks ($500 per individual) give immediate extra cash (to pay for the long delayed bills) in the way of specifically targeted tax breaks for the middle class.
Now, please call your Senator. Let him or her know that you support the Stimulus Bill. You might even tell them how your town has a crumbling school or has had to lay off workers, stop fixing the road, or how bottled waters is required for its babies because of its lack of water/sewer.

For Senate phone numbers, click here. At the top of the page, write in your state and your Senate contact info will pop up. Thank you for caring about your country.


PS: Pearlstein's got a new blog spot on Leadership. You might want to put it on your read list. Find it here.

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