THE DOWNSIDE OF GARY PETERS' SMALL BUSINESS JOBS ACT

The recently passed Small Business Jobs Act sponsored by Gary Peters is not all it's cracked up to be.  It is supposed to be designed to increase lending to small businesses and create incentives for small business investments. What I hear, however, is that most businesses do not want to have anything to do with the government.  What I hear from some banks is that they won't lend if they don't have the money themselves, they do not want borrowed government funds shoved down their throats.

Here is an excerpt of an email I received with a different take on this situation. 

"Peters makes it sound like those d*** banks won't do their job and lend to small businesses. What's wrong with them? The banks (Wall Street) are the bad guys.


Now comes Gary Peters and his trusty companion Tonto to the rescue. By printing another $50 billion, and saying that this "extra" money can't be borrowed by the feds - there is now money that the government can FORCE the banks to lend to businesses.

The fallacy is that - if the feds were not borrowing every REAL dollar and every FIAT dollar in the economy - with their Stimulus spending, annual budget deficits, and bailouts of every nature - there WOULD ALREADY be funds available to lend.

In 20 months, Gary Peters aided and abetted the theft of more dollars from the American People than all the presidents from Washington through Reagan - COMBINED".

A story about what we have going on:

I've got a job that brings in money (taxes). I wish it was more since my wife (Congress) always spends a lot more than I bring home. I don't have the courage to get my wife to slow down her spending. Where would I have her cut? Everything is so important. Clothes, groceries, cable TV, hair styling, magazines, lawn service, Friday casino night, restaurants, ball game tickets, car repairs. The list never ends.

In the meantime, my kids (small businesses) are not eating a lunch at school. All our money is tied up in credit cards and debts. The kids are ornery, their teachers are complaining, and the pediatrician visits are more frequent. There's no money left to pay for lunches.

Who is the bad guy? My boss (the taxpayers). He's not paying me enough. If ONLY he would pay me more - and more - and more - I could fix everything. So I'll keep asking for raises and pad my expense reports more.

Finally, the school principal calls. "Your kids need lunch money. They are no longer studying (working) because they don't have any energy (jobs). They need lunch money (loans) to get energy (jobs, productivity) so they can study (do more business).

I respond, "Your cafeteria (the banks) should be giving them free lunches (private loans). I pay my school taxes - there should be plenty of money for the school cafeterias to do their job - give the kids lunches, like they were set up to do." The principal states that the taxes pay for teachers and school costs - not for lunches.

After weeks of unsuccessful pressuring of the school (banks, another bad guy) to give my kids free lunches, I steal (not REALLY my money) $100 from a co-worker's wallet and send it to the school to pay for a lunch card for my kids.

So one month later, my kids are eating lunches but still aren't working very hard. They are conserving their energy, because they don't know when the lunch money will run out. They won't go out for any sports (hiring) - sticking to the basics - too much risk of overextending their available energy (funds).

My boss (taxpayers) wants to fire me. He can't keep paying me more and he's tired of my constant harping for a raise. Also he's tired of the accountant telling him that he found something else funny with my expense reports.

But my wife keeps on spending. And I am still in denial that I am also spending, too.

If only the lunch money lasts until I hit my big score at the casino (November 2nd). Then everything will be great.

A reading from the Book of Peters, Chapter 1, verses 1 through 10. Therein endeth the lesson. Praise Be to Pelosi. Amen.
H/T Johnny Tremain and the Sons of Liberty
 
Help me support Rocky Raczkowski, iCaucus endorsed candidate who will go to Washington and represent the voters and not Pelosi, the unions and special interest. www.rockyworksforus.com