Crapo voted with the rest of Idaho's Congressional delegation against President Obama's $787 billion stimulus plan. He said the country cannot spend its way out of the recession.
"There undoubtedly will be some stimulative effect in the short run," Crapo said. "(But) if you could spend yourself into prosperity, we would just have a stimulus package every year."
--Sen. Mike Crapo on the American Recovery and Reinvestment Act
What an unfortunate name... I bet he didn't have it easy in school. It didn't stop him from becoming a senator, though.
I guess Crapo has never heard that you have to spend money to make money. If you are making a good investment, you can expect good returns. This is completely unlike the money that was spent over the last eight years. This is sort of like seeding a garden. Initially, at least, you have to invest money into it. You have to buy seeds or plants. When the plants grow, you can take them to market and sell them and make money, or keep them and save money.
The important part of a garden, though, is all the work that is put into it. The garden can't grow to its full potential without attention. This stimulus plan needs a lot of attention to make sure the resources are allocated and used to the full potential, otherwise you mind as well be planting the money and expecting it to grow.
Most Republicans who voted against the bill have said precautionary words such as "there may be some initial/shortterm effects..." but in reality, what we are likely to miss are the gradual, longterm effects. The recession will continue. The plan does very little to immediately change that. I can't honestly say that there is an immediate solution. Eventually, however, the money being sown will come to fruition.
I would like to be more optimistic about this stimulus package, but I'm really not optimistic. I am only defending the idea of investing money into our own country. The ideas in the plan are mostly good ideas. I just don't think it will help soon...
Unless we take into consideration the lessons to be learned here. We got here by making mistakes that we cannot continue to make. We need to go back to our roots of moderation, temperance, and frugality as duty and principle. This should not be an inconvienience, but a way of life. Living beyond our means can't last forever.
When the dust of the recession settles, I hope we are better for it.
