Heck, it’s only money, as a friend tells me when he uses his credit card to buy new collectibles which he can’t otherwise afford. That seems to be the attitude in Washington. How about a new “stimulus” package of $300 billion? Why not $500 billion? No, let’s go for a trillion dollars!
The one thing that isn’t shrinking in the U.S. economy these days is the size of the stimulus package that financial experts say is needed to turn it around.
With automobile sales dropping, payrolls plunging and manufacturing contracting, economists from across the political spectrum are raising the ante on how much the government should lay out. Some are now calling for at least a $1 trillion boost.
Let’s see. By some accounts the federal government has already devoted $7 or more trillion to bail-outs. Isn’t that stimulus enough? The deficit this year already is going to exceed $1 trillion. How will hundreds of billions of dollars taken from taxpayers and tossed into the federal money pit result in real, self-sustaining growth?
It’s time for someone in Washington to say no more.