Rebate Is Futile

Open Letter to President Bush and the United States Congress (excepting Ron Paul)

Mr. President and Legislators,

Now that you are attempting to re-inflate the economy by handing out money
to the American consumer, let me ask you this:  have you ever tried to pump up
a flat tire that has not yet been repaired?  Can you guess the outcome?  Your
giveaway will most certainly not keep the economy from shrinking; and just like
the tire   s air, once consumers spend the    rebate    it will be gone
forever.  Sadly, I fear you will remain at the pump handle until the value of
the dollar is exhausted.  How does a reasonably intelligent person address a
flat tire?  Repair the hole!  A drop-off in consumer spending is not what ills
our economy.  The systemic holes in our economic system are:

The largest speculative bubble in residential housing ever.  Exportation of
manufacturing base.  Stagnant or possibly falling wages (due to item above),
exacerbated by persistent inflation.  Negative net savings rate.  Enormous
trade deficit.  Even more enormous federal total debt, compounded by continuing
fiscal deficits.  Falling dollar valuation.

Do you recognize that too much consumer and government spending is the
problem?  Encouraging the American consumer to spend is equivalent to drilling
additional holes in a flat tire!  Macroeconomics 101 tells us that recessions
are necessary corrections to excesses in the economy and that when they are
artificially prevented, become even larger.  I remember once trying to drive
two blocks on a flat tire, which ruined the tire.  Prevent a couple of
recessions and you make yourself a depression.  Our two most serious problems
are the intentional destruction of our manufacturing-based economy and our
frightening federal debt.  It is absolutely unforgivable that you have allowed
the means of production to move to other countries for the purpose of greater
profits.  Hear this:  a consumer economy does not create wealth, it exhausts
wealth.  The greater profits of the 1970s to the present have come at the cost
of the destruction of our way of life; pat yourself on the back if you are
happy with that.  Also congratulate yourself on chronically spending more than
you receive in tax revenue because you are directly responsible for that
activity.  Only a fool thinks he can continue to borrow more to cover what he
has already borrowed.  At some point lenders determine debt is so large that it
cannot be repaid; that is the day they say    no more   .  What is your
plan for that day?  Your scheme to give money away to    stimulate    the
economy is only hastening that day nearer!  Unfortunately, the least
culpable-looking action to take in that day will be to print money and
hyper-inflate away the debt, and sadly this is what will happen since Congress
and the executive administration(s) have thus far consistently demonstrated
that political rather than leadership choices are made.  So allow me to
castigate you in advance for the destruction of my savings that is probably not
too far away.  When the    tax rebate    checks are printed this summer,
please make mine payable in Euros or Gold Certificates.  

Lyle Bones
United States citizen
Alvin, Texas
(p.s. For those that get more rebate than they paid in taxes, send that amount
out through the welfare administration)