Economic Policy

Phil Kerpen an economic policy analysis wrote this article hoping it would reach all Americans. Phil is known for sayings things like, “Be afraid, be very afraid of the Obama Administration.” Mr. Kerpen works for Fox news that has been out since 1996. Fox news is shown in about one hundred and two million households with the slogan of “fair and balanced.” The argument that Kerpen is stressing is that another stimulus is not going to help our economy any more than any of the others have. In the 1930’s, the Government, had a spending package that some people say sent the U.S. into the “Great Depression.” The most recent stimulus package was sent out by President Bush hoping to get Americans to spend again. Bush thought that when people started to spend it would boost our economy. Phil Kerpen is expressing that if we have stimulus package two it is going to hurt Americans even more. Kerpen lets us see how unemployment will rise even with the stimulus package two. Also how taxes will rise and inflation will skyrocket.

When Kerpen wrote this article is stated that, “Unemployment was at 9.6% , and is 16.5 percent if you include people who have given up looking for work and part-time workers who wish they were full-time.” I myself searched the numbers on unemployment and found that the number most recent is 9.7% and will hit more than 10% by end of 2009. It is true that businesses are continuing to stash money, close facilities, and not invest as much as before.

This article was great in convincing me and I am sure others to understand how much the stimulus package can hurt us if we do it again. I did not realize where the money came from and where we would get the money back. I knew that we have a deficit that is way beyond most people imagination, but I do think that if we do not start pay off our debt now it is going to hurt our kids in the future. Now having kids of my own makes me look at how the government is spending all of this money and how is it going to affect people in the future. I do not want my kids paying for what craziness that we caused now.

Even now I am not excited about paying higher taxes, and I do not want the government denying my wish to save. This argument is whether or not the stimulus package would hurt Americans. I learned a little about how the government gets back the money that it spends.

I do not think that any one wins this political process. With a deficit of over a trillion dollars and the possibility of raising taxes no one would win.