I have been pretty silent about this whole mess. I have been keeping a close eye on it though.
I don't know much about the inner workings of the economy. I will be the first to admit that. But I can't shake the feeling that throwing that much money into this idea would be a step toward socialism.
I am a firm believer in capitalism, and this is definitely not capitalism at work. I find it hard to believe that so many people are willing to "throw capitalism under the bus". (I hate that saying, and that is the first time I have used it. But I hate a lot of what I have been hearing the last couple of days, so it seems appropriate.) I am also upset that all these "smart" people can come up with is this.
One important aspect that we are not hearing enough about is who is really at fault. I know, I know it's Bush's fault. He is the president after all. Let's face it, this all boils down to congress. Year after year of terrible laws have brought this to a head. Now these same people are going to work to solve the problem they created. How screwed up is that?
I am not going to pretend like I know the answer here. The best analysis I have heard so far was from Rush yesterday. He suggested a suspension of the capital gains tax for a few years to give investors the incentives to put money into the market. Like I said before, I will always err on the side of capitalism.
As far as the debate goes, I think McCain will be there. I disagree with it. If a plan is not in place I think he should stand his ground and stay in Washington. But then again, I am not in a battle to win the presidency.
Please let me know your thoughts on this whole deal. I need all the opinions I can get on this on.