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“Until the 1930s, the Constitution served as a major constraint on federal economic interventionism. The government’s powers were understood to be just as the framers intended: few and explicitly enumerated in our founding document and its amendments. Search the Constitution as long as you like, and you will find no specific authority conveyed for the government to spend money on global-warming research, urban mass transit, food stamps, unemployment insurance, Medicaid, or countless other items in the stimulus package and, even without it, in the regular federal budget.” –Independent Institute senior fellow Dr. Robert Higgs

“Americans have long ago abandoned respect for the constitutional limitations placed on the federal government. Our elected representatives represent that disrespect.” –economist Walter E. Williams in a worthwhile read

Obama’s Stimulus Scam
February 10, 2009 – 12:00 ET

Meltdown
By Thomas E Woods Jr
Most of us have probably heard just about all the arguments we can take in favor of the so-called stimulus package Barack Obama urges upon us. They boil down to this: if the government seizes resources from individuals (whether by direct taxation, borrowing, or inflation) and devotes them to arbitrary projects, we will prosper.

Japan has been through countless “stimulus” packages over the past 18 years, none of which has accomplished a thing apart from driving that country deeply into debt. And after years and years of government attempts to give artificial stimulus to the stock market and the real estate sector, the Japanese stock market is now about where it was in the mid-1980s, and real estate is selling, on average, for the same prices it was in 1975.

The same is true of the American economy of the 1930s, the decade in which President Franklin D. Roosevelt was supposedly lifting the country out of the Great Depression. Far from restoring prosperity, Roosevelt did everything he could to interfere with the economy’s adjustment from depression to health. Thus instead of letting prices and wages move freely so the economy could reallocate resources rationally, he kept wages artificially high (and workers artificially unemployable) and propped up consumer prices.

More pertinent to our situation, FDR’s make-work programs dwarfed even Herbert Hoover’s public-works spending, which had allocated more funds for that purpose in four years than had been spent in the previous 20. Billions of dollars later, what FDR had succeeded in doing was to divert resources from a private sector starved for capital, and thereby weaken the forces of recovery. When genuine wealth generators have to compete with government for labor and resources, the productive sector is weakened at the hands of the parasitic sector.

>From 1933 to 1940, the unemployment rate averaged 18 percent. As the 1930s ended, FDR’s Treasury secretary, Henry Morgenthau, wrote in his diary: “We have tried spending money. We are spending more than we have ever spent before and it does not work…. We have never made good on our promises…. I say after eight years of this Administration we have just as much unemployment as when we started…and an enormous debt to boot!”

What a perfect summary of the stimulus scam: it doesn’t deliver what it promises, and it saddles the people with more debt. You’d think we would have learned this simple lesson, but instead our children have been taught that FDR — as big an economic ignoramus as has ever occupied the White House — was a genius who saved the American economy. The economic and historical research debunking this view is all over the professional journals, but the New York Times professes to be horrified to learn that dissent exists over the legacy of FDR.

It is impossible to devise a plan for economic recovery without knowing what caused the downturn in the first place. FDR didn’t have the slightest idea.

As the great free-market economists Ludwig von Mises and F.A. Hayek (who won the Nobel Prize in 1974) showed, when a government-established central bank, such as the Federal Reserve, forces interest rates below the level at which the free market would have set them, it sets off an unsustainable investment boom, particularly in time-consuming projects far removed from finished consumer goods (mining, construction, etc.).

Now if interest rates had come down because the public was saving more, then the public’s saved resources would have provided the material wherewithal to see all the new investment through to completion. But if interest rates come down because the central bank forces them down artificially, as in the case we’re examining here, then the investment boom cannot persist because insufficient resources have been saved to fund them. The passage of time will reveal that they cannot all be completed. Many of these investments turn out to be malinvestments — that is, investments that should never have been undertaken in the first place, but that investors were misled by artificially low interest rates into thinking were profitable. They have to be abandoned. The bust comes.

In other words, it isn’t the “free market” that causes the boom-bust cycle. It’s the central bank’s interference with the free market.

It’s essential that government not interfere in the economy during the bust. Malinvestments need to be liquidated, not propped up with emergency loans. The economy’s structure of production needs to be reorganized, with resources moving out of firms and sectors that were artificially and uneconomically expanded during the boom, and into genuinely profitable lines of production that cater to real consumer wants. Prices and wages need to be flexible in order to effect this rearrangement.

FDR interfered in this healthy process every step of the way. Not surprisingly, recovery eluded him. (And as I show in Meltdown, my new book, even the common claim that “World War II got us out of the Depression” is false and yields unnecessary ground to the stimulus-mongers.)

That’s why the depression of 1920, whose first year was worse than that of the 1929 depression, was so short lived. Instead of a “stimulus” package, the federal government cut its budget. The Federal Reserve didn’t try to inflate the boom back into existence. The economy sorted out the sound investments from the malinvestments, and before long the United States was back to setting production records once again.

Where is Warren G. Harding when you need him?

Thomas E. Woods, Jr., is the New York Times bestselling author of nine books, including The Politically Incorrect Guide to American History and, most recently, Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse. Read a free chapter at MeltdownTheBook.com and visit Tom at ThomasEWoods.com.

So if the idiots in the government would have given the PEOPLE back there taxes (lets just say $800 billion) that would be apprx. $2,666 per person in the USA!!!!
We as Americans demand this money to be put back in our hands and let us stimulate the ecnomy instead of the libtards and the RINOS in government spending it!!!!!!!!!!!!!!!!!!!!!!!!!

Contact the Republican National Committee and tell them to stand firm and reign in the (3) renegades Republicans.

America…this is a disgrace…a push to shove under the noses of the American taxpayers the biggest “pork” bill in our history.

Go to RNC.com and tell them you want them to stand unified on saying “no”…we don’t want to be a part of this scam!

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THE SOCIALIST DEMOCRATS ARE MARCHING US DOWN THE ROAD TO SOCIALISM!

Don’t be discouraged…you must keep calling/emailing…concentrate on those House members that the Democrats are targeting….

Senators

Voinovich of Ohio,
Ensign of Nevada
Murkowski of Alaska

Reps.

Shelley Moore Capito (WV).
Blaine Luetkemeyer (MO)
Jo Ann Emerson (MO),
Jim Gerlach (PA)
Charlie Dent (PA)
Fred Upton (MI)
Todd Platts (PA),
Mike Castle (DE)
Candice Miller (MI),
Michael Turner (OH)
Steve LaTourette (OH)
Patrick Tiberi (OH)
Eric Cantor (VA)
Dave Reichert (WA)
Bill Cassidy (LA)
John Fleming (LA)
Brett Guthrie KY)
Jim Cooper (TN)

America is too precious to let this go…we cannot give up!

[...] Quick Take: Reid Announces Agreement Reached on $789 Billion Stimulus Bill → Read full article… [...]

[...] Quick Take: Reid Announces Agreement Reached on $789 Billion Stimulus Bill → Read full article… [...]

Payback time. Sell to anyone, but buy only from conservatives. Fire any democrat whose taking up a job that could be done by an American. You know the way democrats run their big liberal sewers only in reverse. Wonder how the filthy rich liberals would feel about being targeted with class envy from the right? If it’s good for the American goose it must be good for for the communist tyrants. Oh and if you’re on the right and benefit from a government hand out make videos telling how you’re going to spend Chris Mathews’, Jay Z’s (any idiot corrupt rich liberal’s) money to support conservative groups & media. I pledge that I’ll take your money, but won’t sell you my loyalty LMAO

I’m confused…so Spector, Collins, and Snow aren’t the ONLY Republican traitors…there’s more???????

LONG STORY SHORT — You’ve screwed us ALL Harry!

One little item he’s not sharing with anyone:

http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_mccaughey&sid=aLzfDxfbwhzs

EDUCATE YOURSELVES PEOPLE! The Dems and their GOP lackeys are going to make this a SOCIALIST/MARXIST nation!!!

[...] rest is here: Reid Announces Agreement Reached on $789 Billion Stimulus Bill Filed Under: Latest News VideoTagged: pcu [...]

Another outrageous piece of “pork” in the stimulus package…$300 million for “green” golf carts!

America…I would like to help my grandson go to college…I can’t.

Do you suppose they could put that in the bill? How about your kids and grandkids…do they need to go to college? Are they having a hard time doing so? Do you think the stimulus will pay for it?

No…but they can take “our” taxpayer money for “green” golf carts.

The Nation of Islam’s Messiah is a fraud…he is taking our country down the tubes and the socialist Democrats (3 turncoat Republicans) are helping him do it.

If you haven’t expressed yourself to your Senate/House reps please…please…do so and stop this madness!

AMERICA TWO OLD SAYINGS THAT STILL RING TRUE TODAY!

“HASTE MAKES WASTE” – haven’t we learned from the bailout?

“AN OUNCE OF PREVENTION IS WORTH A POUND OF CURE” – We need to do everything we can to prevent this bill from being law!

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JUST ANOTHER DAY IN THE SOCIALIST “REIGN OF BARRY HUSSEIN” AND HIS SOCIALIST/COMMUNISTIC PROGRAMS AND POLICIES!

I have mixed “feelings” on the $300 million for “green” golf carts. Now if they’re planning on buying those at $8000 a pop instead of $45,000 for a SUV then that would be ok. Give them to the EPA or some other corrupt agency to toot around in. Of course knowing these knot head idiots they’ll probably issue them to California law enforcement to chase down the thousands of criminals they’re fixing to release on the public.

=====================================
=
= LOCKING OUT REPUBLICAN REPRESENTATIVES;
= HIDING PET PORK PROJECTS IN THE FUNDING;
= USING FEAR, INTIMIDATIION AND RIDICULING
= REPUBLICANS
=
= PRESIDENT OBAMA,
= IS THIS THE CHANGE WE CAN BELIEVE IN?
=
= WE’RE CHANGING INTO THE TACTICS OF A
= COMMUNIST COUNTRY
=
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This whole fiasco has brought me to lose any and all faith in Democrats. They’ve demonostrated ugly political self-interest at the expense of America.

Bwahahahahhahaa!

Obama has already “strung up” the failed republicons… Enough rope to hang their failed selves…

Rushe’s 400M ‘contract’ on America is not going to help them… The GOP will now suffer a very slow and painful death as they deserve to after messing up America for their own crimes….

In the end, the Republicans just did it all to themselves in their criminal greed to screw America over for their own personal gain…

Now, it is “pay back time” :D

Don’t you enjoy just sitting back and watching the leaned crud in the house and senate and white house ruin the USA. After they have ruined this country just where will the Joos move to next? China?
The problem is that most young people are brain dead to the whole thing. They love their sports bars more? I wonder how they will feel when they wake up and realize that they have become meer serfs without any future. The time has come to speak up loudly against the people who are ruining the USA regardless of how “chosen” they are!

Maximus wrote, “So if the idiots in the government would have given the PEOPLE back there [sic] taxes (lets just say $800 billion) that would be apprx. $2,666 per person in the USA!!!!
We as Americans demand this money to be put back in our hands and let us stimulate the ecnomy instead of the libtards and the RINOS in government spending it!!!!!!!!!!!!!!!!!!!!!!!!!”

CUT OUT THE MIDDLE MAN! GIVE US BACK OUR MONEY AND LET US *BAIL OURSELVES OUT*! $2666 is enough for TWO SMART CARS IN EVERY GARAGE!!!! Let’s all GO GREEN, starting with an extra $2666 in our pockets!

YouTube – FEMA Clergy Response Teams
http://www.youtube.com/watch?v=SRIDNQNsUss

After hearing him all I can say is TERM LIMITS NOW

A government big enough to give you
everything you want, is strong enough to take
everything you have. -Thomas Jefferson

If an American is to amount to anything he must rely upon himself, and not upon the State; he must take pride in his own work, instead of sitting idle to envy the luck of others. He must face life with resolute courage, win victory if he can, and accept defeat if he must, without seeking to place on his fellow man a responsibility which is not theirs.” –Theodore Roosevelt

“If a nation values anything more than freedom, it will lose its freedom; and the irony of it is that if it is comfort or money that it values more, it will lose that, too.” –W. Somerset Maugham

“He is a man of sense who does not grieve for what he has not, but rejoices in what he has.” –Epictetus

AMERICA…RIGHT NOW ON CSPAN2 (12:51 PM EST THURS 2/12)…WATCH IT AND BE INFORMED!
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One of the Nation of Islam’s Messiah biggest supporters, Fred Tausch, a Republican-leaning independent, has taken out ads against this stimulus bill. He is spending $100,000 of his own money to run newspaper and radio ads speaking against this “pork” bill.

Part of what it says…

Amidst our rapidly deteriorating economic situation, President Barack Obama and members of Congress have an extraordinary responsibility–and opportunity–to revive our economy and bring meaning to the words “hope” and “change.”

To date they have failed in every measure.

Instead of leveraging enormous bipartisan goodwill and a genuine collective enthusiasm for reform, the politicians in Washington who crafted the American Recovery and Reinvestment Plan reverted to classic Beltway deal making and borrow-and-spend economics…

America…it is appropriate that on the day that we honor the great REPUBLICAN President Abraham Lincoln.

President Lincoln was a great American, no one disputes that, but he was also an American not afraid to speak up against injustice in our country. We all knew his speaking up freed the slaves in our country.

America…we are doing that also…President Lincoln would have been proud of what you are doing to stop the injustice that is taking place in our country under the Nation of Islam’s Messiah.

This bill is nothing but garbage…crafted solely by the socialist Democrats to disguise their agenda to socialize our nation and our economy.

Keep speaking up and speaking out….if you have already called/emailed your Senators/House Reps do it again.

We have lost a battle…we have not lost the war…that too is similar to what President Lincoln would have said…you keep saying it!

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AMERICA…WE “ARE” THE NECK THAT TURNS THE HEAD IN WASHINGTON…WE ARE THEIR BOSSES…THEY DON’T BOSS US AND TELL US WHAT THEY WANT US TO DO…WE TELL THEM WHAT TO DO…KEEP TELLING THEM…GET IT THROUGH THEIR THICK SKULLS…NO STIMULUS…NO “PORK”…LAY OFF OUR MONEY AND USE YOUR OWN!

AMERICA…CSPAN2 RIGHT NOW (2:52 PM EST 2/12)…WATCH IT AND BE INFORMED…PLEASE!
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America…old saying…”haste makes waste”….let us learn a lesson from the fiasco called the “bailout”!

We let the government fool us into thinking the economy would fail if it did not act on the bailout…they did and it didn’t!

FOOL ME ONCE…SHAME ON YOU!

FOOL ME TWICE…SHAME ON ME!

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AMERICA…KEEP CALLING…KEEP EMAILING…IT IS NOT OVER…THE DEBATE GOES ON AND SHOULD.

THERE IS TOO MUCH IN THIS BILL THAT EVEN THE POLITICIANS DON’T KNOW ABOUT…HOW CAN THEY EFFECTIVELY MAKE A DECISION BASED ON…”NO” INFORMATION.

CALL THEM TO JUST SAY “NO” AND LET’S START OVER WITH THE SOCIALIST DEMOCRATS INVITING THE REPUBLICANS TO THE TABLE TO CRAFT A BILL THIS TIME…ONE THAT FOCUSES ON THE HOUSING CRISIS THAT GOT US INTO THIS IN THE FIRST PLACE!

The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.
~Winston Churchill

AMERICA…WATCH THE DEBATE ON THE STIMULUS BILL THIS MORNING…FRIDAY…2/13…AT 10:00 AM EST. DON’T DEPEND ON THE MEDIA, THESE BLOGS AND/OR ANYONE ELSE TO TELL YOU WHAT IS GOING ON…HEAR IT FOR YOURSELF!
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America…late last night the Democrats finally presented to the Senate and House Members a copy of the 700+ page “stimulus” bill that was agreed to by the House/Senate Conference. Each and every member is expected to read this bill and understand it in it’s entirety in order to VOTE ON IT TODAY!

It is a bill that is complex and written like a legal document. Have you ever tried to read a legal document? How about 700+ pages in just a few hours and then be expected to make an “informed” decision to saddle your children and grandchildren with a debt so high it can never hope to be repaid.

A debt that will come about because we have to “borrow” that money from “another” country…we don’t even have the money we are spending. A debt that, again, puts us at the mercy of another “country”!

Add to that the little we do know about this bill….$300 million for “green” golf like cars, millions for food stamps, the tax credit for buying an auto…scrapped, aid to NASA for climate research, funds for disadvantaged children at Head Start, and electronic tracking of our medical care by the government….America what is any of this doing for business that needs to create the jobs the Democrats promised?

I heard that Harry Reid, dropped in at the last moment, $8 billion to build a railroad from California to Las Vegas (his home state) . Doesn’t that sound like an “earmark” project“…something the President says is not in this bill?

In addition, we won’t see most of any benefit for the rest of the year. If there is some relief, it won’t be felt in the job segment until 2 or 3 years down the road.

America…this bill is being pushed down the throats by a President who should know how things work in the Congress. Should know, but we have to remember that most times while “he” was a Senator he voted “present” not even getting involved in the process or the vote.

Each “one” of the items in this bill (if they could be understood in just a couple of hours), should be read in it’s entirety, understood in it’s entirety, and then discussed in it’s entirety and streamlined and polished before any one of item should come up for a vote. That is the responsible way that Congress should do a bill.

This is an unconscionable and irresponsible act foisted upon the American people and our descendants by the Democrats and the President.

We need to tell each and every one of them in the Senate, in the House and the President that we, the American people, WILL HOLD THEM PERSONALLY RESPONSIBLE FOR THE ADDITIONAL FINANCIAL BURDEN THEY ARE PUTTING UPON US….THAT WE WILL NOT FORGET WHAT THEY HAVE DONE AND ARE DOING TO OUR COUNTRY AND OUR ECONOMY.

America….Sec of the Treasury Paulson told us before the bailout…if we didn’t allow them to have over $750 billion dollars…our economy would fail.

The government, and the Congress, gave them the money and it didn’t work…and this one won’t work either.

FOOL ME ONCE…SHAME ON YOU!

FOOL ME TWICE…SHAME ON ME!

America…members of all parties are voting on this bill.

There are members of all parties that are showing complete irresponsibility by voting for this bill against the wishes of the American people who have called/emailed their offices and voiced their opinions on not voting for this bill.

Then there are true American politicians (in all parties) who are listening to the American people and will vote “no” on the passage of this “earmarked – pork” bill because it is bad for America.

AMERICA…CALL/EMAIL YOUR REPRESENTATIVES AND THE WHITE HOUSE AND TELL THEM HOW YOU FEEL AGAIN. WE WANT A “NO” VOTE ON THIS BILL. WE WANT THEM TO FOCUS ON WHAT GOT US INTO THIS MESS IN THE FIRST PLACE…HOUSING AND BANKING.

WE WANT THEM TO GO BACK TO THE TABLE AND START OVER. PREPARE A BILL THAT WILL DEAL WITH OUR HOUSING AND BANKING.CRISIS.

CONGRESS PASSED LEGISLATION TO PROVIDE LOW INTEREST LOANS —- “BECAUSE EVERYONE IN AMERICA SHOULD HAVE A HOUSE EVEN THOUGH THEY DID NOT HAVE THE MEANS TO PAY FOR IT“! THEY DID NOT HAVE TO HAVE A “DOWN PAYMENT” – IT WAS FREE FOR NOTHING!

THAT “NOTHING” AMERICA HAS COST US ALL DEARLY AND THE POLITICIANS NEED TO KNOW WE KNOW WHO IS TO BLAME HERE AND WE KNOW WHO NEEDS TO FIX IT AND HOW.

WE WANT THEM TO FOCUS ON CORRECTING THE MISTAKES THEY MADE IN THE PAST ON THE HOUSING AND BANKING.

THAT IS SOMETHING THEY CAN WORK ON. THAT IS SOMETHING THEY CAN FOCUS ON…DEBATE…POLISH AND THEN VOTE ON A HOUSING/BANKING BILL….NOT THIS GARBAGE!

THE POSSIBLE BENEFITS OF THIS “STIMULUS” BILL WILL NOT EVEN BE SEEN FOR AT LEAST A YEAR, IF THEN.

SO WHY THE HURRY? WHY NOT SCRAP IT AND START NEXT WEEK ON A “BI-PARTISAN” HOUSING/BANKING BILL THAT WE CAN LIVE WITH?

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AMERICA WE ARE THE BOSS OF THE GOVERNMENT. WE ELECTED THEM TO REPRESENT US AND OUR VIEWS ON WHAT SHOULD BE DONE.

WE KNOW WHAT NEEDS TO BE DONE ,AND IT DOES NOT AGREE WITH WHAT THEY ARE DOING.

TELL THEM AGAIN…DON’T GIVE UP…DON’T STOP…THEY NEED TO HEAR IT UNTIL THEY GET IT!

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WE ARE THE NECK THAT TURNS THAT HEAD AND WE NEED THAT HEAD TURNED IN OUR DIRECTION NOT TOWARDS BIGGER GOVERNMENT AND INTERVENTION IN OUR LIVES!

AMERICA…WATCH THE DEBATE…..RIGHT NOW…..ON THE STIMULUS BILL THIS MORNING ON CSPAN2…FRIDAY…2/13…AT 12:23 PM EST.

DON’T DEPEND ON THE MEDIA, THESE BLOGS AND/OR ANYONE ELSE TO TELL YOU WHAT IS GOING ON…HEAR IT FOR YOURSELF!
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America…let’s believe that the (3) renegade Republicans that took this bill over the top will have a change of heart and a heart for the America and our people by changing their vote and voting “no” instead.

Here is their information for you to call/email to implore them to do what is right for America and what “you” want:

Senator Snowe 202/224-5344

Web Form:

snowe.senate.gov/public/index.cfm?FuseAction=ContactSenaterSnowe.email

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Senator Collins 202/224-2523

Web Form:

collins.senate.gov/public/continue.cfm?FuseAction=ContactSenatorCollins.Email&CFID=39113496&CFTOKEN=99427497
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Senator Spector 202/224-4254

Web Form:

specter.senate.gov/public/index.cfm?FuseAction=Contact.ContactForm

PLEASE DO IT NOW…IT MIGHT MAKE A WORLD OF DIFFERENCE FOR AMERICA AND OUR CHILDREN AND GRANDCHILDREN!

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