Barack Obama, arguably the dumbest nobody to ever become President of the United States, has now demonstrated that he didn't even know the difference between real money and play money. For the occasional liberal who may stumble upon this blog, I will explain:
"Real" money is money which has been received in exchange for honest goods or services. It's the money we all take home in our pay check every week. It's the money the government taxes us on in order to meet our constitutionally mandated federal responsibility to do things like maintain our armed forces and pay folks to destroy working automobiles.
"Play" money is the stuff that comes spitting out of government approved printing machines. It's actual value is no more than the cost of the paper and ink. It represents nothing at that point except being the product of a printing press.
Obama probably knew a tax cut traditionally spurs the economy, because even he can't be dumb enough to have overlooked it's successful use by JFK, Reagan, and Bush the Second who inherited a weak recession from Slick Willy Clinton. While the Dems called it a "tax cut for the rich", in reality it was a tax cut for small businesses who pay their business taxes at the personal rate. They in turn, invest the extra cash ( money that was not taken from them by the government ) in their businesses, expanding either employee size or capital goods with the loot ( which is real money they have actually earned ).
Obama of course cannot cut taxes because his liberal managers would lynch him, so he mistakenly thinks that simply printing money and giving it away will do the same thing.
The reason his play-money-givaway didn't work was because it wasn't given to the small businesses who would use it to expand and grow. It was given to consumers, rather than to wealth-generators, and that's why Obama's massive stimulus plan is a complete bust. Most of the consumers simply spend their newly-found ( unearned ) cash at the local Wal-Mart or liquor store.
Fox News just announced that the federal tax revenues were going to be the lowest since 1932, during the great depression. That's the note that sent me scurrying to the keyboard. Funny - in the past, when taxes were cut, the federal revenues actually grew quite famously, and the government ended up with even more revenue than they would have received if they had not cut the tax rate on individuals and small businesses.
Yes, Obama has blown it, big time. No tax cut, no stimulus, no increase in federal revenue. Pass out play money, most of it goes to China, still no stimulus to small businesses who are paying most of the freight anyway ( these are the folks the Dems call "rich" ). They've been the life blood of the American economy since day one.
You screwed the pooch, Obama. Now, about that birth certificate......