Sunday, February 15, 2009

The "stimulus package" passed

Well, the "stimulus package" passed (or rather was hastily rammed through) both houses of Congress. My impression is that neither the Congress nor the president actually has any idea how to turn the economy around. The "stimulus plan" is largely massive pork barrel spending that in many cases only stimulates Democratic special interests. This is quite similar to the neocons who wanted to invade Iraq for years and were able to use 9/11 as a justification. Now we just have liberal Democrats who are using the recession as a excuse to spend nearly a trillion on the wish list they accumulated in their years out of power. This whole thing is driven by left-wing ideology, just as neocon ideology drove the invasion of Iraq.

There may not be any real way for the government to turn it around. We may simply need to take our lumps and ride this thing out. Both reckless banks and people who took on an absurd amount of debt for things such as homes and cars the couldn't really afford, credit card purchases, and excess student loans got us in this mess. But it looks like those of us who have acted responsibly will end up bailing them out.

I have my doubts that the "stimulus plan" will do all that much to improve the economy. One thing is for sure, it will greatly add to the national debt, will increase the size of government, and may well lead to serious inflation. It's going to be an interesting ride ahead.