I heard this morning that the Senate has the cost of the “stimulus” package up to $932 billion. That’s $68 billion short of borrowing a trillion dollars from the Chinese and the European Union and does not include the trillion dollars we already plan to borrow this year because our budget is a trillion dollars over revenue.

The stimulus plan represents $3,106.67 borrowed for every man, woman, and child living in the United States. That’s $7,456 dollars per household. Those amounts are just the principle owed, without any kind of interest applied.

How many of us have $3,106.67 to hand the government beyond our current tax obligations? How many have $3,106.67 for every one of their children? I doubt very many.

Yet, most Americans sit quietly while the Congress and the president plan to put them in debt $3,106.67. The claim is that debt will help stimulate the economy. Since when did spending borrowed money stimulate anything? Unless we go bankrupt as a nation, we have to pay every dime of this stimulus back.

We are going to pay for this mistake for the next hundred years.


This entry was posted in Economy, Government, Politics, Society, Spending and tagged , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *