Now that all the talking economic heads have been heard with respect to our dreadful economy, it is time the amateurs took over. One suggestion to get the economy up and running is for the government to issue War Bonds at an interest rate a point or less under what we are paying China, our largest creditor country. Next on this agenda is to call upon Hollywood stars to promote War Bond sales through appearances and advertisements. One would recognize this is
Letters not a novel idea as it has been done in past wars; however, it would succeed on multiple levels: It would get citizens who are afraid to spend, a good safe reason to shake the money from their mattresses and lend it to the Feds, who, in turn, could use it to create more jobs and further stimulate the economy. An additional benefit of issuing War Bonds would be to give Americans who could afford it the opportunity to participate actively in stimulating the economy as opposed to the passive given: that of paying taxes. Additionally, by putting more capital in the hands of government, it has more control over how and where the money is spent which, for better or worse, could be a good thing.
What seems to be missing in our society is a way to rekindle faith in government and governing. The bulk of responsibility for this rests with those elected to serve us. Speaker Pelosi must forget how the prior occupant of the White House served the rich as pork laden bill after bill was passed through the House during that Republican majority reign, and spare the pork in a time of crisis. How many times has the President said that politicians must get back to doing the people's business? That must include no pork and no pay raises. In fact, a symbolic pay cut from our elected officials would meet with welcomed approval from the electorate.
The Republicans in the senate must do that which is right for the people to minimization of party. Should Republican Senators have a better mousetrap, they should verbalize it instead of condemning every action proposed by the President. The constant crying and criticism without positive input is non-productive and tired. Moreover, Republicans should know how counter productive and infantile their carping looks in a time of crisis. All they need do is to look at their poll numbers.
Time and tactics are critical as there appears to be little faith in our economy, our economists and our stimulus plan. Perhaps selling War Bonds is one idea whose time has come, again.