Feb 9, 2009

Economic Stimulus- Hole of Debt, or Giant Crippling Crater?

Even with east winds, rain, and cold temperatures, a romp on the empty beaches of the Sandy River with the Mrs. and our dog George W. was the highlight this weekend. The dog, of course, spent half the time sprinting this way and that way. The rest of his activity consisted of digging as many holes as possible in the sand.

The holes our dog created in the sand reminded me of the giant trillion dollar hole our esteemed representatives in Washington D.C. are digging for us. How much is a trillion dollars? Just for comparison, total U.S. war funding since 2001 has been about $900 billion. The Congressional Budget Office has predicted the total U.S. deficit for 2009 would be $1.2 billion- BEFORE adding in the costs of the new stimulus bill. What are our politicians in Washington D.C. doing to us?

What if this pork- barrelled economic bailout doesn't work? A trillion dollars in debt means how many hundreds of billions of dollars in debt service payments over the next 30, 40, 50 years. More money spent on government debt service means less money available for social services, schools, roads, you name it.

And what about the future value of the U.S. dollar? We abandoned the gold standard a long time ago. What happens to the value of every dollar already out there after Congress dumps a trillion NEW dollars of so-called economic stimulus into the economy? Every dollar will lose value.

We're getting screwed. That's the only way to describe what is happening to the U.S. taxpayer. We are getting buried in a huge trillion dollar debt hole so politicians in Washington, D.C. can say they "did something" about the economy. None of them believe this trillion dollar stimulus will actually "stimulate" anything but the 24 hour news cycle.

"We're from the government, and we're here to help". Yeah, right.

No comments: