Economic Stimulus Package
I was taught, and have come to believe there is no "free lunch". Unfortunately many Americans believe there will be a "free lunch" - that they will get a benefit without having to pay for it. Whether it is spending on a credit card beyond their means of repayment, or overextending to purchase a home in an inflated market, Americans seem to be blissfully ignorant of the consequences of their decisions. Now it is time to pay the piper. The housing bubble has burst, the debt burden is catching up to people, consumer confidence and spending drop, and "Presto" we have fears of recession. And in an election year! What is an incumbent to do? Well, pass an economic stimulus package of course. This will provide the "free lunch" that everyone needs to feel like they can go out and spend some more. Knowing Americans they probably will use the money to make additional purchases rather than paying off debt, saving or investing. The effect on the economy will be transitory, but perhaps it will be the right medicine at the right time. And we as taxpayers will be paying for this $168B stimulus package in the long run.