The American people have been told repeatedly that a “jobs bill” is needed to get the nation’s economy back on track – most recently, in the State of the Union and the 2011 budget release.
Aside from the obvious reasons why a jobs bill won’t work – the increased debt that will lead to a weaker dollar and long-term inflation and the arrogance of our Congressional leaders that they’re smart enough to properly channel taxpayers’ money to its highest and best use – there is an unseen cost to a second stimulus bill that dooms it to failure before it’s even signed into law.
As it turns out, the government’s newfound proclivity for blaming bad guys for the setback du jour (consider the various wars on Fox News, insurance companies, fat cat bankers, and the rich, to name a few) has spooked companies and banks alike, who worry (with good reason, it seems) that they may be the next target in the Administration’s crosshairs. Accordingly, banks are not loaning and businesses are not opening/ expanding as much as they might otherwise do – because they might need that money for taxes, compliance fees, or who knows what else. Hey, we didn’t need to write a spending freeze into the budget, we’ve created one organically!
Another stimulus robs the American people not only of their tax dollars, but of a stable business environment. Isn’t it time for Congress to just leave us the heck alone already?