Personally I don’t listen to talk radio all that much except brief forays into Glenn Beck territory and occasionally, Rush Limbaugh. Nevertheless, I had heard on his show he would be writing an op-ed piece for the Wall Street Journal concerning the Obastimulus package. At first I thought it was a joke, well I stand corrected.
From the WSJ, words of wisdom from the underground leader of the Conservative movement, Rush Limbaugh.
My Bipartisan Stimulus
By Rush Limbaugh:
Wall Street Journal-There’s a serious debate in this country as to how best to end the recession. The average recession will last five to 11 months; the average recovery will last six years. Recessions will end on their own if they’re left alone. What can make the recession worse is the wrong kind of government intervention.
I believe the wrong kind is precisely what President Barack Obama has proposed. I don’t believe his is a “stimulus plan” at all — I don’t think it stimulates anything but the Democratic Party. This “porkulus” bill is designed to repair the Democratic Party’s power losses from the 1990s forward, and to cement the party’s majority power for decades.
Keynesian economists believe government spending on “shovel-ready” infrastructure projects — schools, roads, bridges — is the best way to stimulate our staggering economy. Supply-side economists make an equally persuasive case that tax cuts are the surest and quickest way to create permanent jobs and cause an economy to rebound. That happened under JFK, Ronald Reagan and George W. Bush. We know that when tax rates are cut in a recession, it brings an economy back.
Recent polling indicates that the American people are in favor of both approaches.
Notwithstanding the media blitz in support of the Obama stimulus plan, most Americans, according to a new Rasmussen poll, are skeptical. Rasmussen finds that 59% fear that Congress and the president will increase government spending too much. Only 17% worry they will cut taxes too much. Since the American people are not certain that the Obama stimulus plan is the way to go, it seems to me there’s an opportunity for genuine compromise. At the same time, we can garner evidence on how to deal with future recessions, so every occurrence will no longer become a matter of partisan debate.
Congress is currently haggling over how to spend $900 billion generated by American taxpayers in the private sector. (It’s important to remember that it’s the people’s money, not Washington’s.) In a Jan. 23 meeting between President Obama and Republican leaders, Rep. Eric Cantor (R., Va.) proposed a moderate tax cut plan. President Obama responded, “I won. I’m going to trump you on that.”
Yes, elections have consequences. But where’s the bipartisanship, Mr. Obama? This does not have to be a divisive issue. My proposal is a genuine compromise.
Fifty-three percent of American voters voted for Barack Obama; 46% voted for John McCain, and 1% voted for wackos. Give that 1% to President Obama. Let’s say the vote was 54% to 46%. As a way to bring the country together and at the same time determine the most effective way to deal with recessions, under the Obama-Limbaugh Stimulus Plan of 2009: 54% of the $900 billion — $486 billion — will be spent on infrastructure and pork as defined by Mr. Obama and the Democrats; 46% — $414 billion — will be directed toward tax cuts, as determined by me. read more…
I thought this would be wrought full of sarcasm and infantile jabs at Obama, but surprisingly, El Rushbo, has offered the most bipartisan, comprehensive, sensible, and comparative stimulus package yet. The best part is, by applying his idea you could finally determine which economic school of thought solves recessions better, Keynesian or Supply-Side. This is perfect since recessions are a fact of life and will continue to happen. While I am not his hugest fan, my hat’s off to Limbaugh for his simple and common sense approach, I love it!