Economy and Fiscal policies
The month of September is one of a change of
seasons—and by that I mean more than from summer
to fall. On the national scene of Politics, the
Presidency, and the Congress, fall has been of
one and several Wall Street firms, and their sale
and closure to new entities. Goldman Sachs of
course is one shining example of a favored
company and lucrative commissions in the sale of
Governmental bonds and other instruments.
Secretary Paulson before his term at Treasury
chaired that firm. As their changed of structure
and auditing has undergone, with similar
preferred, I am highly suspicious of what is now
regarded as a “bailout plan”
I am reminded that the “new “President in 1932
inherited a failed a failed Republican policy and
measured a bank holiday, then a series of
Reconstruction programs. As that fiscal crisis
has challenged subsequent Administrations. So the
economic challenge of today is no greater a
measure. It is just one of progress, with failed
Administration ready to leave office. As if it is
a lasting grasp to “build equities in the
Treasury, ala “privatized social security”, the
current proposals toward stability of the nation
are filled with perks and immunities which cannot
be if we are nation .
Aside from the potential conflicts of
interests, and assurances to those leaving office
into ‘the private sectors” ( without retirement),
there is an interweaving of several definitions.
This oversimplification with staggering amounts
as 700 bn are of such a scale that realities are
lost, and indifferences of consequential policies
which secure the nation’s health, commerce and
welfare become muddled.
Much of it is the Federal Budget itself, and
its dealing should be separated from that
of “wall street”. Either Presidential candidate
will lead the country in another term, with new
addresses of freedom, global policies and
domestic initiatives. Presumably, neither hopes
to inherit instruments which hinder those plans
into execution. And if there is anything this has
been learned by this Administration, it has
failed in the execution of defense, American
foreign policy and domestic capabilities. It has
deluded itself with a doubling of a national debt
while claiming the strive of balanced budget. It
has repeated provided stealth to programs which
it knows better in a convoluted spin of facts.
The dealing with the nation’s economy is no
different. We are given the public pronouncements
that if the “bailout” is not given that “pay-
checks will not be, businesses fold,” and likely
the sky will fall in the uncertainties of
tomorrow. We should have better faith in America
than that. Counting all the American blessings,
and noting the numerous ills of history, (and
even late modern American experiences of
governmental closings, and financial fiascos),
here is still a promise of tomorrow—if the new
President can chose his own.
Yet the Congress under urgency from the
Administration considers binding the next
President by prior restriction. An incremental
approach to the Federal budget and the raising of
the debt ceiling is far more judicious than
locking the future capabilities to relieve failed
policies.
Posted 15:42
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