Friday, February 20, 2009

Stimulated by the Insanity of it all

Well this stimulus package has certainly been stimulating everyone. I've yet to see any positive press on it. Today my mailbox was full of messages about the number of Americans that are against it. One internet poll was running 50 to 1 against it.

It's a huge expenditure which seems likely to single handedly jack up the national debt appreciably. Currently the U.S. Gross Domestic Product is a bit less than 15 Trillion dollars, that's a lot, but the debt is about 9 Trillion and with the 800 billion or so of stimulus adjusted for interest we're looking at something like a 33% rise in the national debt from the long term effects of this one action. This is not fiscal responsibility. It isn't even fiscal irresponsibility. What it is is sheer reckless disregard for the health of the economy.

Apparently the Democrats are drunk with their newly found power and bent on making up for all the profligate spending they never had a chance to do. It is positively scary, especially in the aftermath of the stock market collapse. Your 401K may be different from mine but my IRA's and my 401K's have all tanked and now they want to spend money they don't have in huge quantities? Have they collectively lost their marbles? This is positively crazy.

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