Is the stimulus package really necessary?
Might be time for the President to reconsider the stimulus package.
Why? Several reasons.
First, the ecomony is showing signs of life that lead me to believe it is starting to turn around. The United States economy is the most dynamic in the world. It is cyclical, but it also always bounces back. It is doing that. Housing starts are up, home purchases are up, hiring is up, banks that were in dire straights are earning money, the economy is coming back!
Second, it is just too big. Many pundits have said that this will add trillions of dollars to our debt. More than all other presidents combined. Consider for a moment that we went through WWI, WWII, Vietnam, and Iraq wars and we did not incur as much debt as we are about to incur. By pumping this many dollars into the economy, we are likely to get a boom, but the bust that will follow will be large and long lasting because of the debt we are incurring to get the boom.
Ask anyone that got a new job, went out charged a bunch of stuff on a credit card thinking their new job would only increase in income and when it doesn’t, bam…the debt has to be paid back…and the boom is somewhat of a bust. Stop the package now, trim it back at least. Cut out some of the pork and resubmit.
So, with that being said. I don’t think the stimulus package is really what we need.
What we need is…well, I’ll save that for next time.
