Posted by
fomz23 on Tuesday, January 13, 2009 7:20:49 PM
As President Elect Obama come into office we here about his big
public works projects . Spending billions of dollars on roads ,
infrastructure and golf courses or Solar power projects for Seattle
were it rains 250 days a year .
Besides the fact that wasteful spending got us into this financial
crisis and I don’t see how more wasteful spending will get us out (
guess it’s the old drinking to get over the hangover theory ) one of my
other problems with this plan is who really benefits ? Not us , and
certainly not our children . Every dollar spent is another dollar
going into our economy and inflating it to the point were forget about
our children , our grandchildren and great grandchildren will have to
pay this off . It’s nice of all those old guys on Capital hill to just
dump a huge deficit on the people they wont be around to see struggle
to pay it back .
We laugh at people like Ron Paul who warn us about spending , and tell us of the benefits of the gold standard .
But do ever stop and think about it ? If every dollar needed to be
backed by something ( gold , silver ) the government couldn’t just
throw money at everything . It would be the solution to pork spending
projects . You just couldn’t spend t because the money wouldn’t be
their at will . You couldn’t have big companies trying to pay off
congressmen . If Congress needed more money they would have to go to
the people and raise taxes . And think about gold as a commodity . If
we find a sunken ship in the ocean and in it are pre World War Two
German bank notes , are they work anything ? No not on the market (
there worth is what some collector would pay for them ) but if it’s
German gold coins there still is a market value in it . Gold is worth
something bank notes with nothing backing them are not .
So back to my question . Who benefits ? In the long run , nobody .
Short term the biggest winners are unions . I bet a chunk of those
public works projects will only go to card holding union members ,
which will keep out those unemployed workers who really need the jobs .
Just as the Auto deal did this will keep the unions happy and the
politicians can count on those union votes and donations.