On...Rebate Checks

Give Politicians and Bureaucrats 5 plans and watch them pick the worst one.

Continuing on the thought of the Stimulus Boondoggle just think of the lunacy of the rebate checks (Both Bush's and Obama's). This is the worst possible way to get money back into the hands of the American people yet this is the delivery system they pick. First they send a letter telling you you're going to be receiving a rebate check. (Taxpayer $ spent) Then they take months to send all those checks out (Think about time, cost, and bureaucracy needed for such nonsense). Then studies show that the majority of the people simply saved it or paid off existing debt, they didn't buy anything new. So the whole point of a big push to the economy didn't happen. AND THEY WANT TO DO IT AGAIN! And roughly the same size! Why aren't more people outraged?! The overused word of the Obamanation already is Smart: Smart Committee this and Smart energy that and Smart Biden over there. Is this Smart anything? No, this is good old fashion American idiocy.

Just cut everyone's payroll tax (or something like it) for one paycheck. You can switch a few digits in a few computers and everyone's next paycheck will be bigger. (Or so it would seem, granted probably a little more complicated, but still) People will be more apt to spend more money in a paycheck than a separate check they can just plug into their savings. They'll go to the movies or out to dinner or buy a new shirt or anything else. It will be more like found money or a Christmas bonus.

Or as someone (can't remember) suggested give everyone a time-expiring VISA-esque card that they must spend or it goes back to the government bureaucracy. Though the logistics and bugs of this project are probably going to be quite messy the first time around and the cost will be higher, it is waaay better than stupid rebate checks of $500 bucks.

From...Slate: Obama Week One

John Dickerson and Slate tackle Obama's first moves.

SLATE.COM

On...Just a Mess

Wasted Opportunity

This is why people (regardless of party) don't trust politicians. They take a task and screw it up and waste taxpayer money and in the process rarely solve the problem. David "King of the Centrists" Brooks has a really good article about why this "Stimulus" package is stupid and not even what smart Dems wanted to do in the first place. Though I believe it would be the wrong move I'd rather see a real Keynesian "prime the pump" package just so we could know for once and fore all if this theory has any legs. But no, its a huge hodge-podge of ick. Some change.

David Brooks in the NYTimes

On...Congress and the Stimuli

Stimulate This!

Why does this stimulus package seem more like political graft and patronage than really pumping lots of money into the economy ala Keynes? Taxpayers (present and future) and their money seem to be going to a huge buffet of pork, especially to grease local and state governments and it is all being disguised as an injection to prime the pump of the recession sliding economy. As you break down the bill (and its guises) there is simply too many pet projects and huge chunks of money allocated waaaaay down the road. And there are no guarantees it will do any thing. The whole business cycle could very well fluctuate back into the black with or without this, but the money would be spent anyway. This is just ridiculous--paper money and politicians. But the mob wants anything to be done. Welcome to the junction of Bear Market and Mobocracy.

Newsweek has a very nice summary of the three-headed economic beast we are encountering and why the stimulus is only an arrow aimed at one head.

George Melloan at The Wall Street Journal reminds everyone of the "Leaky Bucket" theory and why the stimulus seems to be just that.

And since Keynes is tossed about randomly right now you can read a long piece from the New Republic on Obama and Keynes HERE (if you wanna here from one voice from the Left)

On...100 Posts...& 44

100th Post

Much has been already said of the new president and the collective force of hope yesterday so I won't take up much space on the subject, but in the mostly fine rhetoric of 44's speech there were a couple of passages that I really liked and hopefully will be remembered by the president himself as he begins his journey. [Did anyone else think he looked a wee bit tired as he walked down the hallway leading to the steps yesterday? He needs to get ready for perpetual tiredness]

In reaffirming the greatness of our nation, we understand that greatness is never a given. It must be earned. Our journey has never been one of shortcuts or settling for less.

It has not been the path for the faint-hearted, for those who prefer leisure over work, or seek only the pleasures of riches and fame.

Rather, it has been the risk-takers, the doers, the makers of things -- some celebrated, but more often men and women obscure in their labor -- who have carried us up the long, rugged path towards prosperity and freedom.

"It must be earned." Very key. "Our journey has never been one of shortcuts" though so many want exactly that and they certainly settle for less, that's what compromise is, that's what the New Deal was, that's what the "stimulus" boondoogle is.

The"risk-takers, the doers, the makers of things" could come straight from the Andrew Jackson handbook. I wonder if that was the connection at all. Probably not. I can just imagine what Old Hickory would have thought of yesterday. The old coot would have had a stroke.

And the very best part of the whole speech was:

We will not apologize for our way of life, nor will we waver in its defense, and for those who seek to advance their aims by inducing terror and slaughtering innocents, we say to you now that our spirit is stronger and cannot be broken; you cannot outlast us, and we will defeat you.

As hawkish as Churchill or Truman or JFK or if you will Jackson. Not exactly Lincoln. I'm surprised by all the Lincoln comparisons. This isn't a Lincoln speech. But it didn't need to be.

On...Hope and Change

The Economist put together this nifty little chart on the number of times Presidents in their inaugural addresses mentioned the words Hope and Change. Let's see how Obama does. Though Taft set the bar pretty high 100 years ago.

You can click on the chart to read it better or go the website directly HERE

RIP: Andrew Wyeth

ANDREW WYETH (1917-2009)

The greatest living American painter died a few days ago. Andrew Wyeth of the the consequential Wyeth clan passed on at 91. I certainly thought he was impressive especially in a post-post-modern world of art that often is sterile and unthoughtful and more interested in shock then reaching an intellectual and emotional connection with a the wide berth of humanity. Wyeth wasn't one of those guys. He was crisp and fresh and heart-felt. The art world needs more like him and less of the abstract hooey that infests most wings of modern art museums.

OBITUARY

ANDREW WYETH HOMEPAGE

BRANDYWINE RIVER MUSEUM

On...2009 Hope

First post for 2009.

Hopefully this blog finds everyone well.

Hopefully 2009 will not be as dire as all the wags think it's going to be. Hopefully Iran doesn't get the bomb. Hopefully the Cleveland Indians win the World Series. Hopefully Obama turns out to be a decent president (see cartoon above). Hopefully the Fox lawsuit against Warner Brothers' Watchmen doesn't derail the March release date. Hopefully everyone's family is healthy and wiser. Hopefully Harry Potter actually comes out in July. Hopefully Tom Wolfe finishes his next novel (he's no spring chicken). And Hopefully my new young adult book hooks an agent and a publishing house.

Here's to good choices in the future.