Jeb Bush’s Economic Plan

Here is the latest:

Jeb Bush outlined on Monday a sweeping and detailed plan to rein in the size of the federal government and to curb the influence of the lobbyists who live off it, calling for a 10 percent reduction in workers, an immediate hiring freeze, a constitutional amendment requiring a balanced budget and a six-year waiting period before members of Congress can become lobbyists.

Okay, let’s take this one at a time.  A 10% cut in workers means a cut in Federal Spending.  When the economy needs demand, we are going to cut spending so demand will be decreased?  And on what basis do we think we have too many federal workers? Here is a shocker for you.  We have less federal personnel now that we had in 1962.  We do a lot more stuff with a lot less people. The federal government employs fewer people than it has on the average over the last 50 years.  And who is going to do the stuff that needs to get done.  Remember when Bush gutted FEMA and then Katria hit?  Oh and where would those savings of less people be going.  My guess is tax cuts for the wealthy.  Dysfunctional government, but more wealth trasfer to the wealthly 1%.  It’s the Republican way.

Now here is the one I love:  A constitutional amendment requiring a balanced budget.  Name me one corporation that does not borrow to invest in tomorrow.  Said another way, the way we got out of the Depression was massive borrowing and spending.  Now you want to say that the only way we can help our people get jobs is through printing more money?  We have a massive infrastructure problem, so if Jeb isn’t going to borrow at some record low interest rates we have right now, how are we going to fund their upgrade?  Without government’s ability to spend in bad times, and save in good times (to slow down inflation) you rob the government of one of the two tools it has to control the economy (monitary and fiscal).  Kiss Social Security goodbye.  It would be a disaster for the country as this article by Robert Eisner,  William R. Kenan professor emeritus of economics at Northwestern University, back in 1994 points out.

Now the lobbying thing is nice, but stupid.  They always get around it.  The issue isn’t the lobbying, it is the money in politics.  Figure out a way to get money out of our elections and we would finally have Congressmen who did not have to listen to lobbyists.  

So what we have is Jeb Bush, clueless on economics, or the real lives of American people, feeding junk to the base who thinks the federal governemnt is just out of control and you can run a governmen budget like a home budget (which also is not balanced), and you have a recipe for a nightmare.  I wonder if economists will stand up and pick off this nonsense.  We had better hope they do, because our news media is clueless.

One Comment

  1. […] for undocumented workers (legal status) and wants a balanced budget constitutional amendment.  See Jeb Bush’s Economic Plan.  If that doesn’t wreck the economy nothing will.  I think I turned the page and it […]