I Need Some Stimulation, Please

So it looks like we’re going to get an “economic stimulus package” jammed down our throats whether we like it or not. It’s all about politics. If either party had refused to go along, the other party would have used it against them in the upcoming elections. So in the end, they all agree to squander our future to win the next election. The problem is, stimulus packages don’t work. Our economy is too big for a $300-$600 check per person to have any real impact. Plus, think about it: we import most of our stuff, so a good chunk of the money will be going overseas.

However, the real problem is that we are just adding to an already crushing federal debt (see my previous post Looming Federal Fiscal Crisis: A Wake-up Call). It is simply immoral. We are going to go out and buy another iPod, TV, iPhone, or take a mini-vacation and put it on the national credit card that our kids and grand-kids are will have to pay. Proleptic Life has a great post on this angle of the story–check it out.

4 Responses to “I Need Some Stimulation, Please”

  1. John Says:

    The Fed Chair says that the ‘responsible American consumer’ will spend the money on “domestically produced products”.

    And you thought this would be a problem?

  2. Bryan Says:

    How many products (other than food) are made predominately in the US? I mean if people want to buy electronics goods, toys, etc., it’s most likely going to be a Chinese product.

    However, that was really a minor point in my post. The real point I wanted to make is that the stimulus package is the wrong thing to do.

  3. John Says:

    Now you are just getting hung up in the details.

    This is an election year , Man!
    If it works, the GOP takes credit and we get President Romney/McCain. If it doesn’t, the Dems point out the 2,562nd (number of days in office, so far) failure of GWB and President Clinton, Part Deux rides in to save the day!

    Wrong thing to do? It’s exactly the RIGHT thing to do in an election year!

    On a serious note… remember the last time GWB gave ‘the little people’ a rebate? It was counted as income on their 2002 taxes. All these people doing the math ($800/adult + $300/kid = ka-ching!) should stop to realize the tax man cometh.

  4. blueseaglass Says:

    I can’t even think about all of this. My head hurts.

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