While I am no fan of Dennis Kucinich’s big-government style politics, his recent address on the floor of the House of Representatives surprised me. Congressman Kucinich starts with a brief discussion of our current economic problems, including our skyrocketing 7.2% uemployment rate.
He follows with his (acutally, the Democrats’) proposed ‘stimulus’ plan. No matter how much the right or Libertarians may argue against another stimulus plan be assured that this one is coming down the pipe, so it is most definitely worth listening to.
We have to put America back to work.
How do you do that? You go back to that old religion of FDR.
There are over 1.6 Trillion dollars of infrastructure needs that can’t be met by local or state governments.
We need to prime the pump of the economy. And the way we do that is to create jobs.
And if you haven’t guessed already,Mr. Kucinich proposes that the federal government provide this so called stimulus. And how will we pay for this? With tax dollars and selling debt to foreigners, of course! Excessive spending and credit got us into this mess, so certainly more spending and more credit that we can’t afford can get us out of it!
Kucinich (et. al.) wants the Federal government to create jobs. I’m not sure if anyone told him — but the Federal government CAN’T create jobs. As Peter Schiff said in a recent interview, “the government has no wealth to create jobs. Only the private sector can create real jobs.”Â When the government creates job, what they are actually doing is redistributing wealth from the private sector.
when Kucinich calls for ‘priming the pump of the economy’ he is basically asking congress to bailout those of us that are unemployed, so that we can go and spend more money! Not once did I hear Kucinich, or any congressman other than Ron Paul for that matter, mention saving more money!
I do however, have to gives kudos to Kucinich in his call to eliminate the Federal Reserve and the fractional reserve lending system. If there is a single cause to our economic woes, it would be the excesses of fractional reserve lending. As implausible as eliminating the Fed is, it’s a great idea to consider:
In 1913 the money power od the country was taken away from the people (via the Federal Reserve Act). The Federal Reserve is no more ‘federal’ than Federal Express.
If we can take that power back and put the Federal Reserve under Treasury, we start to be in a position to control monetary policy on behalf of the United States people.
Dare to dream Mr. Kucinich. While I may support something like this, the fact is, it’s just not going to happen.
Jumping back to the idea of redstributing wealth through government jobs, Mr. Kucinich leaves us with this gem:
We can’t go back to the same ‘ol same ‘ol. Trickle down economics — the trickle never gets down [to the people]. The invisible hand of the marketplace is in the pockets of the American taxpayers.
Maybe I am not thinking about it the right way – but I would argue that the invisible hand of the government is in the pockets of the taxpayers, via inflationary monetary policy. I won’t even get into the discussion of the visible hand of the government that’s in the pockets of the tax payers via what we call TAXES!
Here’s Mr.Kucinich’s recent address to the House: