What is a fiscal conservative to do this election season?
Mr. Obama likes to talk like he will restore fiscal discipline to Washington. The following list is what Mr. Obama would like to see happen on the economy:
1. Wants $50 billion additional fiscal stimulus NOW “…to help those who’ve been hit hardest by this economic downturn,” Obama said in Raleigh, N.C.
2. Supports the expansion and extension of unemployment benefits, as well as a second round of tax rebate checks.
3. Keep the tax cuts in place for everyone except those making roughly $250,000 and up.
4. Cut taxes further for the middle class by:
A. Exempt seniors making less than $50,000 from having to pay income tax.
B. Give a tax credit worth up to $500 per working person ($1,000 per family) to offset the Social Security tax on the first $8,100 of earnings.
C. Expand the earned income tax credit.
5. 50% federal match on the first $1,000 of savings for families that earn under $75,000 in an effort to jump start household savings.
Unsure of how Mr. Obama plans to pay for all these giveaways. Perhaps he will ask the Fed to print it for him causing another period of hyper-inflation, sinking us all further into the abyss.
Rest assured, John McCain isn’t doing any better marching to the old drum of his predecessor. More of the Same McCain is sure to do the same and cause a continued sinking of the dollar.
We are screwed either way. Pick your favorite poison. I’m writing in Ron Paul because I don’t know what else to do.