Have you ever read an article, heard someone speak, and the double take wasn't enough? You almost had to slap yourself into the past to review it again? I was reading an article on CNN's website that went like this:
"'We don't want a package that is too small because that will end up just wasting money. On the other hand, we're very leery of having an enormous package that would not be necessary and would just boost the federal deficit,' Collins told CNN as Nelson nodded in agreement."
Did you react the same way as I did? If Congress was concerned about wasting money, they wouldn't be Congress anymore. Wasting money is what they do and they are about to do it to the tune of almost a trillion dollars. Let me put it to you this way, if I gave you a trillion dollars to spend, you would have to spend $54,794.52 a day for the next 50 years to use it up. But Congress wants to do this in less than 2 years.
The arrogant part is, they say it is with your best interest in mind.
I predict that we will see more and more people take money out of the market and save it. The Federal Reserve will print more money to compensate and once the American people "feel" better, they will start to spend again. Unfortunately, with the infusion of more printed money from the Fed, inflation will begin to rise as more and more Americans spend. We will see a second recession caused by this bill and only a bigger, increasingly inefficient government to "fix" it.
Keynesian economics doesn't work, supply side (free market) does. Why can't we just do what works.
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1 comment:
I guess this proves that having an enormous package doesn't necessarily denote the presence of big balls.
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