Bailouts And Jobs - In India??

I had a pollster call me last night. From his accent I gathered it was coming from a phone bank far from our shores even though it was of political intent.

Actually, most of us who have computers and have had to call for technical support more often than not talk with someone who is fluent in English but not "American" English.

That brought to mind a recent Jim Hightower column berating a recent move by JP Morgan Chase.

It also made me want to reiterate my advice to seek out news wherever you can find it because in this day of cut backs too much is slipping through the cracks. Even network news is little more than Obama and a recap of the day's headlines. Cable news is totally skewed to the right or the left and papers are scant of content to say the least.

So here's the nitty gritty. Mr Hightower tells us we, the taxpayers, have poured $25 billion into Morgan Chase. What have they done with it? They've increased their outsourcing to India by 25% - to some $400 million!

Talk about unintended consequences! The government has slapped them with cost cutting goals. How better to do it then outsource more than they already have? It doesn't stop with JP Morgan Chase either. According to Business Week India's top tech firms are also bidding on at least three other $100 million contracts.

The 25-30% saved by outsourcing to India goes to the company; the workers in this country who have been replaced get nothing. Mr. Hightower makes one other point of note. Lower cost bank executives can also be found in India, but strangely, no one is looking for them! Is this how the bailout was intended to work? Somehow I doubt it, but as with other aspects of the bailouts, as well as the stimulus programs, it's being made up as they go. Has anyone seen concrete evidence that any of it is working?

The question is being asked if too much is happening all at once. My assessment at this point is yes. Program upon program is being introduced. The debt has gone beyond comprehension. Is it time to slow down and get the programs already in place working before adding to them? Forget that it has to all get done now because mid term election campaigning will take over next year. This is no way to run a country! I'd much rather see less done yet done well than piling the table so full it ultimately collapses.

I've said before and I'll no doubt repeat again, the stimulus and bailout programs have not been well thought out before the beginning of implementation. Slick rhetoric does not make it so. Just think about it. The claim that 95% of Americans who pay taxes will not see their taxes go up one dime. No. But they will see an increase preceded with the $ symbol. Everything from the local level on up where taxes are increased, be it on gas or cigarettes or alcohol or "fees" or "levies"; they are all tax increases!

Just who is minding the store? None of those Indians holding our outsourced jobs pay one cent of our taxes!