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Government stimulus checks

Government stimulus checks

A few days ago I was sitting at home, playing computer games and chilling out when I was startled by a knock on my door, “who could that be” I thought to myself, guessing it would be Jehovah witnesses or someone trying to sell me cheap double glazing, but when I answered the door I was even more stunned as it was a young lady who wanted to talk to me about politics, she was a Labour supporter and was out “finding what people really thought” about Labour, the government and England today. Oh what pure pleasure the next 30 minutes were going to be.

It is fair to say I laid into her and her retched party, but equally fair play to her, one for actually doing what she was doing, and for standing her ground and fighting for what she believed in. She was a tough little cookie, knew her stuff and totally believed in what she was saying, I admired that a lot.

However one aspect that really got my goat was the issue of Browns stimulus package for the UK banking industry. Yes I do agree that something was needed, yes it is the most important business in the UK economy and yes it must be supported. And yes she did fully support what Brown had done. However I had issues and I was going to tell her what they were.

My issues with it all are these:

1.      Brown did too much, he gave too much money to these banks, and did not get enough in return.

2.      We should have used some of that money on Capital Expenditure Projects, investing in the infrastructure of the country, and creating direct employment

3.      Brown should have seen this coming, he was the man in position to avert this long before it happened and he should have been saving for a rainy day when times were good.

4.      Lastly where are the government stimulus checks with all this. The banks still won’t loan, the banks now charge even more for money than before, the repayments are not fast enough but the bonuses still get paid. Who is monitoring the checks and balances for all this money.

I do understand why we must support our banking industry, and why it is so important to the economy on the whole, I also fully understand why bankers get paid what they do and why they get the bonuses they do, I also understand why that money is so important for so many more business sectors, I get the concept of “trickle down economics” and can see it benefits, but this sort of thing can only be done correctly if the right controls are put in place, if the right conditions are insisted upon and the government, for me, have not done this. Where are the government stimulus checks? Who is checking that the stimulus package is working and that we the people are getting a return on our substantial investment.

 

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© 2008 Paul Kavanagh. All rights reserved.