When Government Won't Lead or Listen

Here are the headlines: The Fed is thinking about cutting the discount rate again – the rate that the banks can borrow from the Federal Reserve based on their relative equity/money on deposit. It’s supposed to flood money into the credit system. That worked so well last time the rates were cut for the same reason, as cheaper money was borrowed by the big financial players who immediately used their borrowings to buy U.S. Treasuries. THEY HOARDED THE CASH!

How much of that fresh new cash found its way into your pocket? Did we stop the foreclosures or provide enough receivable financing to bolster payrolls and stop layoffs? I missed that part. With experts predicting unemployment rising from 6.1 percent (and remember, that does not count under-employment or folks who've given up looking) to 7.5% in the very near term, a 23% rise in people without jobs, what about leaving payrolls unfunded does this government not understand?

The Associated Press (AOL news) today noted a possible new stimulus package from House Speaker Nancy Pelosi of California and her fellow congressional Democrats that could cost as much as $150 billion: “As part of that package, Democrats want to resurrect a $61 billion House-passed measure that included about $37 billion in public works spending, $6 billion to extend jobless benefits, $15 billion to help states to pay their Medicaid bills and $3 billion in food stamp assistance for the poor…The Democrats also are considering a second round of tax rebates to follow the $600 to $1,200 checks most individuals and couples got earlier this year. That money, going directly to consumers in hopes they would spend it, could push the price tag much higher.” And this isn't a just "Democratic" issue; there is a lot of Republican support for this as well.

While state aid and the public works spending might be good ideas (jobs and long term investment in ourselves), golly gosh, that $600/$1200 rebate we got earlier this year really worked, didn't it (that February $168 billion stimulus package)? Stopped this financial disaster dead in its tracks, huh? As I said, it ain’t about the Christmas money; it is about paying the mortgage and keeping your job! Stay focused! That’s what Americans want: to keep their jobs and homes first. Next we want to make our savings and retirement plans secure. Then we want to punish those responsible for this mess and make sure that there is enough government regulation so that it never happens again! Then we want growth and new jobs.

Government, whoever you are, listen to us… listen to what the people need and want. Stop making up stuff about trickle-downs and stimulus packages. LISTEN TO US!

I'm Peter Dekom, and I approve this message.