Pilosi & Reid- An Economic Tsunami
When reading through the provisions of the bill passed by the Nancy Pilosi led House on Wednesday and it’s proposed areas of funding I suddenly realized that I wasn’t going to get any piece of this action. I am not unemployed, don’t need food stamps, have little artistic talent, am past the age of worrying about unwanted pregnancies , am not sure what ACORN does and I can’t find any mention of the tax cuts that were promised to middle class Americans.
I was about to stop reading to catch the evening news for my nightly laugh at their weak coverage of anything that requires an iota of research when a provision of the Stimulus Bill caught my attention. It was the Buy America provision. It in short said that if a company was building anything funded by the Stimulus Bill they needed to only use steel and other elements made in America. After a short gasp of disbelief ( my gasps are always short) I read my last posting to be sure that I had stated my concern that Nancy Pilosi and her cohorts were totally unaware of the history of the depression and some of the particularly stupid actions taken by Congress in that period. If you haven’t heard of the Smoot –Hawley Tariff Act, look it up. It was a Republican sponsored bill that was a major contributor to the depth of the depression in the 30’s. Pilosi seems to want to duplicate the thoughtless legislation of the Hoover administration by enacting her version of Smoot Hawley in 2009. The bill raised tariffs on foreign product to exorbitant levels which generated retaliation by foreign countries. Trade declined precipitously and the depression deepened. Hoover opposed the tariff raises but was forced politically by the farm lobby to accept them.
The Pilosi/ Smoot Hawley version is more than tariffs. She wants to ban the use of certain foreign products completely in Stimulus projects. Is there anyone within hearing that doesn’t suppose that there will be retaliation by foreign countries? This is a subject that everyone needs to understand. The underlying message here is that our President is supported by a leadership in Congress that hasn’t even read a basic primer on the Depression and the legislation that exasperated the situation.
I am basically a simple guy, wanting America to afford my grandchildren the same joy I have had in my career. I worried about President Obama when he was running but he is now in my every hopeful thought. Simply stated, it is my hope that he is strong enough and is able to add reason to the bill that desperately needs an addition of economic reality. If not from him, from where will help develop in the coming months
I’m not currently worried about the Obama issues that concerned me in October. I’ll get back to them later.
We now have bigger immediate worries. They are Pilosi and Reid.
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