Hey President Obama: Tax cuts, not your stimulus, will end the recession

The last time an economic stimulus, heavy on public works projects, was utilized to reinvigorate our nation's economy, was when Franklin Roosevelt's "New Deal" was put in place. It didn't help much, the Great Depression carried on until our entry into the Second World War. In fact, there was a sharp downturn within the Depression when Roosevelt raised taxes in 1937.

To be fair, Obama has put on hold his plan for the tax increases that he touted during the presidential campaign. Obama is placing his economic turnaround plans upon his New Deal-style stimulus.

But the best way, in my opinion (and a lot of other folks' minds) to jump start the economy is a tax cut, or at the very least, making the 2001 Bush tax cuts permanent. That would send a message to businesses that cash will soon be in the hands of consumers and they'll be buying goods.

What about Obama's stimulus? Here is what AP says:

It will take years before an infrastructure spending program proposed by President-elect Barack Obama will boost the economy, according to congressional economists.

The findings, released to lawmakers Sunday, call into question the effectiveness of congressional Democrats' efforts to pump up the economy through old-fashioned public works projects like roads, bridges and repairs of public housing.

Less than half of the $30 billion in highway construction funds detailed by House Democrats would be released into the economy over the next four years, concludes the analysis by the Congressional Budget Office. Less than $4 billion in highway construction money would reach the economy by September 2010.

The economy has been in recession for more than a year, but many economists believe a recovery may begin by the end of 2009. That would mean that most of the infrastructure money wouldn't hit the economy until it's already on the mend.

Not good.

It's not too late, Mr. President, to take Joe the Plumber's advice.

I think a tax cut is the best method of "spreading the wealth around."

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