Economist Bruce Krasting has his dander up this morning… And he’s got me rethinking my position on term limits to boot.
Why? Because our elected officials have decided that the uncertainty of a 2 month extension to the payroll tax holiday is what the economy needs.
There have been dozens of articles from smart people connecting the dots between the uncertain tax policies business’s face and their reluctance to hire more workers. I’ve heard Pols from both sides say the same. It’s true. But the best that Washington can do is move the ball forward by 59 days; disgraceful.
The two-month extension amounts to $33b that will be retained in the economy. I would not be surprised if the benefit of the stimulus will be lost by the continued uncertainty that is being caused by D.C. What has been “accomplished” is just a loss.
You see, this is what you get when you elect guys and gals you’d like to have a beer with rather than on their ability to work together as a team and solve the tremendously complex problems of the world’s largest economic engine. An engine that is sputtering and coughing along and needs a serious overhaul. These guys and gals have no idea how a modern industrial economy works, how money works, how literally anything works! So obsessed with scoring points of one another they cannot get out of their own way.
They spout platitudes about “living within our means” and “I can balance my checkbook, why can’t Uncle Sam balance his?” And they seem to think this is clever. Or, on my more cynical days, they seem to think that we the American People will think this is clever. We don’t.
My Senator, Chucky Boy Schumer (D-N.Y.) had this to say about the conflict that is sure to come in February:“It’s a fight we welcome”
These clowns love this stuff. It has nothing to do with the right choices; it’s about the next election. They don’t give a damn about the country or it’s citizens. It’s about keeping their powerful jobs.
I have never been a fan of “term limits” because I believe that it’s important for people to develop expertise. Would you rather go to a doctor who graduated from medical school 2 years ago or 20 years ago? I know which one I’d pick. There is value in experience. But my assumption, my mistake, was in believing that our Congressmen and Senators were developing expertise in government. I was wrong. They’ve developed an expertise in how to be assholes to each other. They become experts in blowing the ideological dog whistle for their base. Actually governing the nation? Not so much. Unless it’s time to hand another massive chunk of cash to the 1%, then they can get together an make it happen. If term limits can remove clowns like Jim Sensenbrenner, Mitch McConnell and the Charlie Rangel then I’m on board.