Do not be conformed to this world, but be transformed by the renewal of your mind, …

An Endless Series of Hobgoblins: Economist Walter Williams, in writing about the proposed stimulus package, starts off by reminding us that American politics is all about keeping folks occupied with “an endless series of hobgoblins, all of them imaginary” (which makes me think of last night’s SOTUA).

Sowell on Change: “The time is long overdue for voters to demand specifics instead of rhetoric that turns their emotions on and their minds off.”

It seems that the more things change the more they stay the same: God is still not quite sufficient on his own after all these years …

With God’s help and the Internet, “ALL THINGS ARE POSSIBLE TO THOSE WHO BELIEVE!”

… from a grassroots email push to raise money to get Mike Huckabee elected — then the world will be saved.

I am still trying to wrap my head around the wisdom behind the seemingly inevitable economic stimulus package. The administration and many leaders in Congress are proposing a combination of tax cuts and rebates to the tune of $150 billion dollars!?! Oh, so there’s a tax surplus in Washington of $150,000,000,000? I knew I was paying too much in taxes! Wait…what about the $9 trillion dollar national debt? Can the government really afford this even if it does hope to get some of the money back? ¹ Well, I am sure that the U.S. Treasury will take care of things just like they always do — by simply printing more money. Who cares about inflation when it feels good, right? Our cultural values are all about instant gratification and $1,600 per family or $800 for individuals will buy a lot of big screen televisions; thus 1) averting the impending entertainment drought caused by millions of analog TV’s being rendered useless by the FCC mandate that broadcasters go fully digital in 2009, and 2) propping up the profits of overseas electronics manufacturers (buy stock in LG, Samsung, Sony, and Vizio now). Remember, we have a global economy, so think of the stimulus package as being for the Chinese factory worker as much as it is for the average American.

However, if you already have a shiny new HDTV hanging on the wall or simply must have one before the Superbowl, then below are some suggestions for other things you can do with your stimulus package (when it finally arrives):

1. Pay off your debt (Americans carry nearly $10,000 in credit card debt)
2. Put it in savings (Americans save -0.5% of their disposable income)
3. Give it back (annual interest on national debt is over $2,755 per taxpayer ²)

Of course, keep in mind that improving your personal long term financial outlook goes against the government’s plan, which revolves around the so called “multiplier effect.” This is the economic theory “that an initial spending rise can lead to even greater increase in national income.” In other words, by dangling a carrot the government ³ hopes that its citizens will take a bite and continue to mirror its own irresponsible spending habits. No wonder we have such a hard time saying “no” to ourselves.

¹ If I recall correctly, the $200/$400 Technically speaking the $300/$500/$600 tax rebates of 2001 were deducted from any tax refunds that appeared on returns filed in the next year for the 2001 tax year (though they were generated by temporary tax cuts). One would assume that the proposed stimulus package of 2008 will work the same.

² $405 billion divided by an estimated 147 million wage earners.

³ Rather than spending your rebate you could instead donate it to the campaign of the only major party candidate running for president who supports sound long-term economic policies (just don’t tell him where you got the money).