This entry is going to be a bit short. Those of you who enjoy the Peter G Brand Barbed Ire will find it in my post-mortem on the Republican debate. This concerns Obama's announced jobs bill, and my complaints about it are very simple and belaboring them is overkill.
Obama brought out his American Jobs Bill to hopefully get the country back on its feet before
Unfortunately, I can't get excited about this. The numbers just aren't adding up. The first bullet point is the plan to cut payroll taxes in half. Now, if you're going to do a tax cut, this is how you do it (I remember Bush Sr. pushing through a tax cut and saying how great it was for the American people. Five seconds with my calculator showed me that the tax cut would give me an increase of $2 every two weeks. Yes, thanks to President Bush, I was farting through silk). Unfortunately, it runs into two problems. The first is this includes cutting how much is taken in for Social Security, which is already insolvent and is about to see a huge increase in payouts as more Boomers come of age. The second thing is how Congress can't balance the budget with what they are taking in, and with the decrease in payroll taxes, this is supposed to help?
The proposed bill is full of things like this. For example, Obama wants to curtail the rising cost of Medicade, but says nothing about the costs that will shoot up once Obamacare kicks in. And he claims that, despite taking in less money and spending more, the bill will balance out perfectly.
Jesus Christ! It's like Reagnomics 2.0! This 80's nostalgia is really starting to piss me off.