Sunday, February 10, 2008

Stimulus or more supression?

A package designed to jolt our slowing economy needs the Heimlich because it will eventually choke us. Spending is at the core of our problem yet the government is doling out billions of dollars (borrowed from China BTW) with the intent to thrust spending and stave off recession. The inevitability is that consumers will take their measly checks to Walmart and buy Chinese goods plunging us into further debt with China and do nothing of boosting the US economy. At what point do we rein in the madness, accept responsibility and look to the future? I posit that spending, i.e. expensive wars, exorbitant national debt, oil dependency, falling currency value, and general gluttony are the crux of our current macro-economic situation. While the spending stimulus may or may not give us a short term boost it is bound to burden us in the long term. I just don't see the logic that the cesspool our spending habits have created will be mitigated by more spending. Seems to me the oil companies, real estate speculators, commodities hedgers and that ilk are getting a pass for their contributions to the mess while the proletariat bear the brunt. Politically unpopular for sure, it may be the best solution to exercise discipline and restraint for once and let the chips fall where they may. As a hard-line fiscal conservative this package wreaks!

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