What will you do with your economic stimulus package check?

[tw]

Originally Posted by TheMercenary

The tax payer is, and they will be coming for it in about 12 months with a vengence.

It’s still called drug addiction. Once we had a surplus due to responsible government. George Jr (Cheney) decided we needed economic stimulus. So the economy has been running on economic stimulus packages for seven years now. As a result, we have significant inflation and massive debts everywhere. The average American is now spending 104% of his income annually. More drug addiction. Don't worry. Be happy.

We promote 'core inflation' numbers to those who know by worshipping a political agenda. Those numbers say inflation does not exist. With more stimulus packages, home prices doubled. Accounting fraud (including SIVs and other Enron techniques) became acceptable because it "helps the economy". More 'stimulus' avocated by a political agenda.

Eventually stimulus packages will no longer mask economic reality. Economics must take revenge meaning a larger recession looms. No problem. Hand out more money (no different from a tax cut) because throwing money at problems always solves everything. "Reagan proved that deficits don't matter" - the political agenda. Agenda works on people who know what is told rather than use intelligence. Those outstanding bills come due four and ten years later. So the political agenda pretends those bills do not exist (even 'emergency spending' bills that do not appear on the budget - more economic stimulus).

Who is paying these bills for 2002 economic stimulus packages? Bills just starting to appear in the form of record debt, increasing inflation, the threat of stagflation, and selling America to foreigners.

So what do we do? Another economic stimulus package. Does anyone learn from the history - or did UG rewrite it? Same techniques created 1970s stagflation and a massive reduction in the American standard of living. No problem. Reagan proved that deficits don't matter. So many liberals (who call themselves conservatives) promote more voodoo economics. They are told economic stimulus packages have no downside - just like heroine.

Indicators of 'denied' economic recession included housing prices that doubled. To fix America, housing prices must return to where they belong, OR economics takes revenge elsewhere. Instead we throw more money mostly at those who created this mess. Go figure. But that is liberal economics that wacko liberals promoted in the 1970s and wacko conservatives promote today. Deja vue.

Any responsible economist knows (professional or amateur), only useful tax cut coincides with a spending reductions. A fact iterated by both John McCain and Warren Buffet. Both men have a history of using intellgence rather than a political agenda. Another stimulus package will not cure the problem: too many government stimulus packages that even included a bridge to nowhere. Amazing how many Americans would deny economic heroine addiction.

How did we solve the addiction last time? 20+% interest rates. How many learned that lesson from history - or would rather repeat it?