Sadly, economic growth requires more than a huge surge of taxpayer dollars into the slowest areas, like housing and autos, or even banking. The best stimulus is confidence.
But with the best of intentions, the administration's plans seem to introduce more confusion than confidence into the economy.
How can businesses have confidence about investing in the future if they're unsure whether the next government ruling will produce more taxes, or more regulations, or more rules about layoffs or pay levels?
How can individuals feel secure in saving and buying decisions, if government money creation is likely to cause inflation? Or if the rewards of your diligence in saving and paying down your mortgage are offset by taxation that takes your labor to subsidize others who failed to plan?
America is walking a fine line these days. We are a generous and optimistic people. But our history shows that Americans can only be pushed so far when it comes to taxing their efforts.
The Boston Tea Party was the result of an unpopular tax levied by the British Parliament on tea imported into the colonies. The Stamp Act, requiring a tax to be paid on all legal documents, contracts and newspapers, triggered a revolt because it was passed without representation in Parliament.
Politicians are trying to make it look like it's Democrats vs. Republicans when it comes to debating the economic future. But more and more, it's looking like Americans vs. Congress -- all the politicians, of both parties, who have been digging into the pockets of Americans under the guise of "helping."
When it comes to that confrontation, my bet is on the American people.
And that's the Savage Truth!