Blowhards
I was awakened on Tuesday morning by my clock radio tuned to NPR and Senator Foghorn Leghorn (Shelby of Alabama) ranting at Timothy Geithner and basically calling for his resignation over the bonuses at AIG. In my groggy state I remember thinking, “and just where the hell were you when the Republicans in Congress were spending like drunken sailors and cutting taxes, emptying out our treasury?” Here is a guy who can rile up a crowd of know-nothings, but rioting in the streets and burning down the town doesn’t solve any problems.
What is really ironic is that Senator Foghorn Leghorn doesn’t want to nationalize these banks/companies, yet he is outraged when these private owners ignore government wants and desires. By the way there was an amendment put on the legislation for TARP II to prevent bonuses, but good guys like Shelby, oh I am sorry, Senator Foghorn Leghorn, did not want the federal government dictating to these wonderful private bankers who are our saviors, and killed it in conference. Talk about blowing smoke out of both sides of your mouth or other orifice of your body.
I see the same mentality in my own state in what is called the “Howard Jarvis Taxpayer Association”. They are against everything. “We are taxed too much. Just cut spending. Waste is everywhere.” This group was named after the gentleman who led the crusade for the famous Proposition 13 that put a cap on all property taxes and started California’s skid into insolvency. What they are good at is saying no to anybody’s ideas, but their own ideas are either nonexistent or nonsensical. Let’s face it. If we want what we want, we have to pay for it, but the point here is that it is so much easier to say no than to come with a plan to deal with the issues that face us.
When President Obama was putting forward his three-phased plan for dealing with the economy, what you heard from the Republicans and some yellow dog Democrats was “I have some concerns.” Okay, you have some concerns. What are they and what is your solution? And that is where blowhard becomes the operative word. They can throw stones, but they can’t build anything. “I don’t like the stimulus package because it raises the national deficit.” Okay, then what is your approach to stimulating the economy? Tax cuts? That didn’t work last time and that also empties out our treasury and raises the deficit so how does that help?
So what we have is the Obama team trying to deal with these tough issues, and what we get from the Republicans and quite a few conservative Democrats is sniping and political point scoring. It doesn’t get us anywhere. Returning to Senator Foghorn Leghorn, what has he done lately to solve the problem? Oh, I forgot. He is still questioning President Obama’s citizenship. That ought to stimulate the economy. Sure the Obama team has made mistakes. They are learning as they go. It is not perfect, but they are trying. The blowhards are just blowing, without any realistic alternatives. It is always my pipe dream to put them back in charge and watch them sputter, but the damage to the country would be just to great.
Meanwhile in China, they are using this crisis to invest almost a trillion dollars in infrastructure investment to better position themselves when the economy comes back (In Downturn China Sees Path for Growth). They can do this because they are awash in funds from their booming economy. So the next time you hear the blowhards start attacking to score political points, ask them this: “When we were booming in the early 2000s and our financial markets were awash in cash, how come our treasury emptied out and our deficit grew? Was it because you guys had no plan and could not raise taxes to be ready for a day like today? Why should we believe anything you say now?” The fact that we haven’t tarred and feathered these guys and then turned them over to the Taliban for re-education is beyond me.