Wednesday, July 8, 2009
Stimulus and maybe more stimulus
I know that if I were to borrow and spend money I would not become rich, but eventually would have to file bankruptcy since my income would far exceed my expenses. This clearly indicates that one cannot spend themselves into prosperity. The same simple logic also applies to the Federal Government. These stimulus packages are following the same scenario as indicated above. The federal government cannot spend, spend and spend itself into the black. We have seen the last stimulus package, that by the way we had to rush into passing Congress, or we would have seen unemployment skyrocket and the economy go deeper into recession. Well, unemployment has passed the projected 8% that Obama had threatened it would go to if the stimulus was not passed. It is now at 9.5% and the administration now indicates it will exceed 10%. Does this administration and Congress actually believe the voters are that dumb that we would keep quiet while they attempt to pass another stimulus. And, oh by the way we have only spent approximately 15% of this stimulus so far with most to be spent in the year 2012. This logic escapes me but then again I am not in Congress. Now I know why Congress votes to approve bills they don’t read because the logic escapes them also, but we must support our party and screw the country. Party first.
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