About the Author

Richard Cochrane is trained in chemistry and metallurgy but is far more interested and practiced as a political and fund raising consultant, writer and amateur historian. He grew up in a Navy family and with his two younger brothers carried on its 500+ year tradition of naval service to Great Britain and the USA then enjoyed a career with one of the largest advertising and public relations agencies working with numerous Fortune 500 companies and many of America's premier educational institutions. He maintains friendships and acquaintanceships around the world. He lives in Santa Barbara, California.

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The Big Hole In the Bail Out Bucket Idea

November 18th, 2008 • Richard Cochrane
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Out of the way, I'm next in line for a bailout

Just 26% of U.S. adults are at least somewhat confident that U.S. policymakers know what they are doing

Minority has confidence in the bail out efforts to improve the economyAt least 30 states are currently in recession and 19 others are at risk, according to Moody’s Economy.com. In March, Moody’s considered only five states to be in recession: ARIZONA, CALIFORNIA, FLORIDA, MICHIGAN and NEVADA. But conditions have deteriorated quickly, with the trouble that began in the housing market now spreading to other sectors of the economy, particularly manufacturing and retail sales. According to Moody’s, the only thing keeping states in the middle of the country from also slipping into recession is the continued strength of agriculture and energy. In fact, ALASKA’s petroleum propelled economy is the only one that is still expanding.

Just 26% of U.S. adults are at least somewhat confident that U.S. policymakers know what they are doing when it comes to addressing the nation’s current economic problems, according to a new Rasmussen Reports national telephone survey.

It should not go unnoticed that New York Gov. David Paterson (D) who is legally blind sees how to fix deficits more clearly than many. His plan calls for a $2 billion reduction in state spending by April, and a $5.2 billion reduction over the next 16 months.

California’s Gov. Schwarzenegger has collapsed to state employee unionist dumping his no new tax ethos for a few paltry cuts and a package of tax increases including a regressive proposal to up sale taxes by 1.5%. and boost vehicle licensing fees bringing both to the nation’s top rates in what is already the nation’s most taxed.

Car dealers say raising sales taxes and vehicle tile and licensing fees are among the dumbest ideas and will do more harm to an industry many think is still using a stage coach approaches in the jet age.

Others insist this is time for another FDR-like WPA (Work Progress Administration) claiming a dollar spent on infrastructure turns into $1.60 in economic benefit. Admittedly WPA helped but didn’t end the depression — building, among other things, more brick outhouses than anything else leading to the at least partially complimentary aphorism “built like a brick sh**house.”

WW II in 1940s bailed US out 1930s depressionDispassionate analysts point out that’s not ending the Great Depression but World War II; followed by the decades of Cold War that did and sustained recovery.

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