Posted by
Skern It on Tuesday, February 24, 2009 11:29:55 AM
As we look deeper into the stimulus package, it becomes clearer to me that Wall Street is not betting. This bill will only stimulate our ever growing debt. Work creation is not job creation. That being said, it is easy to equate the "package" to a football game.
Let's say the Obama Stimulus package is the media darling #1 team in the country. (Not a stretch so far, right?) They have pretty much so done whatever they have wanted to do with their opponents throughout the year. Early on, they took out one of the biggest political players we have seen in recent years. After they defeated the Clinton Machine it was just a matter of knocking off the McCain Warhorse.
With the "regular season" behind them, they sweep through the playoffs. Now, the Obama team has their sights on the big prize; Total Government Domination. The National Debt Stimulus Package passes. Is there anything that can stop this team? Is enacting health care reform, a bigger welfare state, the NEW New Deal just a formality? Or, will this team be stopped? On to the Championship Game...
However, when the "line" comes out for the Championship Game, Vegas, in this case Wall Street, makes the "Package" the underdog. Now, everyone is scratching their head. How can this be? This team is supposed to be unstoppable. What am I missing?
You see, just like Vegas, Wall Street looks at the big picture and not the glitz and glammour of the "package." Wall Street sees that the free market could be something for the history books. It sees the "package for what it is, a giant pig with a huge appetite. The market has had one helluva ride over the last 3 decades. (I always think back to who was running the show when we hit another low in the stock market or when unemployment numbers come out. Who was in charge twelve years ago? What was going on 18 years ago? But I digress.) The free market will bring us out of the recession--not more government spending.
The GOP needs to take a firm stand on what's coming down the pike. They need to stand firm on principles and not worry what the media of today has to say. We kinda know how they are going to come down on all this "stimulating" anyway, right? History will be kind to the true patriots. So, play the game. Because "on any given Sunday" you just never know what can or will happen. Stick to the game plan and don't waiver.
Right now, the polls show the "package" is getting a lot of action. People love to get "freebies." They don't see the big picture. They want it to be over with tomorrow. That's the America we live in today. They can't see that this spending will have to be paid for someday. Paying for this will not be their problem. Just take care of me. Get rid of the pain NOW. Never thinking "my kids will have to shoulder the burden later".
So, do we bet against the "package" or take the points? Wall Street has set the line pretty high. But, I'm betting against the "package." I have to believe that line will go down. I think evenually public opinion will drop the line to a pick 'em. And when the line goes down, let's hope that the message is clear.
We may be pinned deep on our own side of the field, but we do have the ball. Let's not punt, but drive it right down the field and win one for the Gipper.