Robert Stein 1924-2014

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Friday, January 25, 2008

Free Money for All

The bipartisan smiles in Washington signify that the President and Congress have agreed to give the economy a $150 billion jolt, less than a year's worth of what it costs to keep American troops fighting and dying in Iraq.

Democrats who gave up on de-funding the war will face the voters this fall with a "victory" over an impending recession to paper over their failure to do what they were elected to do in November 2006.

For consumers who overspent by $3 trillion dollars since 2001 (according to Business Week's chief economist), there will be free money and cheaper credit thanks to the Fed to keep doing what they did to get us into trouble in the first place.

The talking-head economists on TV will give us contradictory explanations of how this all works, but the bottom line seems to be that "fiscal discipline" for both individuals and the government has gone out of style in the Bush era, along with restraint over the use of military power.

Is it naïve to suggest that the money being wasted in Iraq could be stimulating the economy and rebuilding America's infrastructure without any loss of life?

2 comments:

jfreeland said...

"Is it naïve to suggest that the money being wasted in Iraq could be stimulating the economy and rebuilding America's infrastructure without any loss of life?"

Damn straight! If only the spirit of LaGuardia (the Little Flower) would visit the nation once more.

thegoreyears said...

You may enjoy this site: http://thegoreyears.wordpress.com -- an alternative history blog. You may read it and think I have too much time on my hands but I make a darn good living as a software engineer and this is my only voice. And by the way, geezer logic is appreciated by some of us.