I just wanted to write a quick comment on the proposed stimulus package that the Congress and the President have come to agree on. The just of it seems to be a $300-$600 check per person, with an income cap. There are also going to be measures that allow businesses to write off depreciation faster then normal.
I think the fact that we are resorting to this kind of thing is despicable. Of course everyone loves getting a check in the mail. I mean who would not want $600 to go blow on a PS3 or something like that. The problem is that the government is already running in perpetual deficit. America is paying its living expenses on the visa card, and this "stimulus package" will do more of the same. We are borrowing money from China to pay for the war in Iraq, so why not borrow from them to pay our people to buy more Chinese made products. Does anyone else out there see the problem here. Check out this article at CNN's website about the cost of this kind of thing. Why can't the establishment see that borrowing more money is not the solution. Lets get fiscally sound, even if it does involve some short term pain.
1 month ago