Transparency, Got to Love It

As I am constantly reading about the proposed $775 billion dollar stimulus package that is being developed by the Obama administration the word that immediately comes to mind is transparency. At this point, most seem to agree that drastic measures need to be taken, but the extent of those measures is up for debate. Obama, however, has done a very good job at rolling out compromises by attempting to include a balance between tax cuts and new spending.

However, considering the outcomes of the bank bailout and the automotive bailout there are legitimate concerns among the public. One major consideration is the fact that China seems to be pulling back from investing in American debt, for various reasons including the global economic challenges and their own stimulus agenda. We have to keep in mind that major foreign investment in US debt has been the primary reason we have been able to keep interest rates low and maintain deficit spending.

I believe that transparency is the key to efficient spending, which will be more crucial now than ever.

It will be important to track every single dollar spent in any future stimulus and make sure that smart investments are being made but also that the public is able to see where their tax dollars are being spent in order to hold our government accountable. In my perspective, that is the only way to recoup public confidence in the system.

This is a time to move beyond democratic and republican priorities and move towards effective and efficient government. Luckily, Obama has indicated that he understands that call so I’m curious to see how it all plays out.

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