[QUOTE=Buster;4233427]I was unable to find the Bloomberg report. Link?
The plan was to get the money for the stimulus thru tax increases or closing loopholes in the tax code.
Some of this money will end up helping the states via income and sales tax.
Necessary American infrastructure will be created, fixed and maintained thru this stimulus money. This needs to be done.
Some random thoughts:
folks are falling over each other to lend the USA money at the lowest rates ever. Why not take advantage of that?
If the repo-man showed up early Saturday morning at the US treasury demanding re-payment couldn’t the USA just sell its 140+ million ounces of gold in Fort Knox?
Gold is well over $1500 isn't it?
The Debt is a big issue, no doubt but it is secondary to unemployment. Debt is being used by the far right for political ends.
We need to get people working, get kids to go to school for engineering again and then fix the wonkiness in our economy.[/QUOTE]
If the Federal Government gives my town money for Teachers, fireman and Police because they can finance cheaply today, who is going to pay their pensions tomorrow?
The school budget in my town has had its percentage of budget for pensions, none productive workers, go from 5% to 17% in under 2 decades.
Don't you think that's creating drag on my towns ability to finance education long term? Don't you think taxpayers without children will be forced to leave? Don't you think young families will look at that and recognize the town can't sustain any kind of education for their children long term might leave?
I can borrow money very cheaply should I speculate on homes, Stocks, Lottery tickets, employees, etc., etc. Should I take on debt because it's cheap and what constitutes cheap?
Debt is real drag on the economy. Spending today that has to be paid back tomorrow is real drag tomorrow. You better make sure that whatever you spend money on today has enough real stimulus tomorrow to counter act that drag. The reason we are in a stagnant economy is an over hang of debt without the infrastructure and education to over come it. Much of that drag has been piled on us by the left.
We have had decades of stimulus and that's the reason we are deleveraging today.
Last edited by Winstonbiggs; 11-15-2011 at 08:09 AM.