
Hardly Stimulus
As regular readers of this blog know, I supported the Rescue Plan (TARP program) last October and believe that this program, along with the aggressive monetary actions by the Fed, prevented a collapse of our still damaged financial system. I also support a large stimulus plan in order to hasten a bottom to this economy and hopefully save many people their jobs, homes, and businesses.
But the Democrat’s $825 billion stimulus plan now working its way through the House, is nothing short of awful. We are expected to vote on this plan on Wednesday, and in all honesty, I refuse to call it a “stimulus” plan since it contains so few stimulative characteristics. Instead, I will hereinafter refer to it as the “Big Spending” plan.
Let me explain.
The purpose of any stimulus plan is to take the recession which we are currently mired in and make it shorter and shallower. If the stimulus doesn’t do that, then it will have a negative effect since it will increase borrowing, increase deficits, and generally retard medium and longer term growth… Read More