Biotech Values

[10nisman]

OT

When congress passes a bill that cuts a Trillion over 10 years, yet only manages to cut $25 Billion in the 1st year tells you we're in trouble. If you think the current spending has $4.6 Billion dollars of deficit per day that $25 Billion equates to 5.4 days of our current yearly deficit. Maybe we need two Tea Parties.

Today's govt spending or deficits aren't the problem. Its the fact that the government didn't run surpluses during the good years to pay for needed govt spending during bad years (severe recessions).

What we need today is not less spending but significant job growth in the private sector. Significant private sector job growth will have two very material impacts - it will allow the govt to pullback from spending and it will bring in significant tax revenue both of which will have significant positive impacts on today's deficits.

IMHO, the Tea Party is completely out to lunch for wanting to rain in govt spending at the worst possible time. At least the significant deficit cuts do not take place for awhile.

What the govt should be doing is spending on rebuilding much needed infrastructure - requiring private sector companies in order to win the work to hire and employ a large percentage of currently unemployed people on the rebuilding. In addition, the govt should have implemented a cash for clunkers for homes and hired unemployed construction workers to recycle foreclosed homes or homes in oversupplied areas throughout the country. This would have had a significant impact to the economy, allowing home prices to stabilize and putting unemployed workers back to work.

Hiring is what we need not stupid political debates over raising the debt ceiling. The politicians should have been meeting with their large local employers finding out what can be done to get them hiring again. Hopefully common sense will one day return to this country. God Bless America.