I gotta admit, the Job's bill is a masterfully crafted piece of political strategy. As for the actual BILL, they say you can't polish a turd, but I guess Obama's advisors found a way. The only problem is, it still SMELLS like shit.
1. "It's paid for" - HA! Not even close…..
Most of the additional revenues required by the bill come through tax increases that don't go into effect until after 2013. In other words, Obama's pushing off responsibility of paying for the bill to a Government that hasn't been elected yet.
In addition to that, the Job's bill gets spent and is done with over the course of the next year and a half. But it's going to take ten years to pay for the cost of it, with tax hikes that don't kick in until after Obama's already spent the money granted in the bill.
Imagine going for a two week trip to Vegas. To pay for it, you take out a 2nd mortgage on your house that you have to pay for over the next 10 years. This bill is no less of a gamble, but regardless of the outcome, you've still got 10 years of payments to make.
There is another spending option however -- "The Super Committee". Instead of trying to find $1.4 trillion in cuts, now the committee must find $2 trillion in cuts, or there is an additional trigger of the tax hikes I mentioned above.
Now when you consider that the constitutionality of the "The Super Committee" is in doubt, you have an automatic trigger of the defacto cuts in the debt ceiling compromise, in addition to the tax hike trigger in the Jobs bill.
2. "The Blame Game part deux"
This is the political strategy part.....
Coming to a teleprompter near you next summer: "I tried to fix the economy. We had the pieces in place, we had a bill that was paid for, we could have put America back to work and back on top of the world! But Republican's chose to stand with special interests groups, the oil companies, and the rich millionaires instead of helping the middle class get back on their feet! It's THEIR fault, not mine! Give me four more years, and I'll continue my battle until we fix what they have broken!"
(Damn! That's a good speech…. I might have missed my calling.)
It's all bullshit of course, but it'll sound good on the campaign trail.
The bottom line on the Job's Bill is that Obama wants to abdicate his fiscal responsibility for the bill to future governments, and he's doing it for a bill that makes questionable promises. I know, I know, most of the spending in Washington is pushed off to the future. Unfortunately, this bill only offers short term, IF ANY benefits.
Oh yea, one last fact…… Even if the Jobs bill creates as many jobs as Obama hopes for, each of those jobs will be costing the taxpayers approximately $200,000 a piece.
Does that seem cost effective to ANYONE?
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"For Those That Have Fought For It, Freedom Has A Meaning The Protected Will Never Know"
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