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Allison Smith

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Behind The Curve

02-05-09
Allison Smith

First the good news: 1) most of the local and national economic experts have the Colorado economy already moving up and out of recession; 2) Interest rates are still at historic lows; and, 3) In addition to the current $7,500 tax credit for first time home buyers, the Senate voted Wednesday night to up the ante and give a tax break of up to $15,000 to all homebuyers in hopes of revitalizing the housing industry. Congressional leaders have pledged to have the new legislation ready for signature by the end of next week.

Is it just me, or does it seem that Congress is always behind the curve, "a day late and a dollar short," as the trite old saying goes? It appears that both parties have finally come to the realization that cooperation will be necessary to get our economy back on track. Novel concept, really, I do wonder how they were able to reach such a conclusion on their own (although I'm sure it did take millions of dollars of research grants and hours of staff overtime - and, probably a $100K toilet seat, or two)?

Yes, this entry is saturated and dripping with sarcasm. It's just that it is tiring as constituents, to have representatives who are almost always reactive, instead of proactive. Wouldn't it have been nice for them to have acknowledged the realities of the financial industry collapse and looming recession months, or even a year or so, ago, and for them to have actually done something to try to staunch to flow and shore the levy???

So, I'll keep on track in the trite sayings department by saying that Congress' action, however delayed, is better late than never. Let's hope that they can stay on track and give us some much needed stimulus legislation, without further delay, the subtraction of substantive provisions, or the addition of too much pork!

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