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Economic Stimulus

$787,000,000,000.00. It’s a number that quite possibly cannot be fathomed. Despite this, it is all we seem to have standing between economic recovery and a deepening recession.

Setting aside the obvious question of whether the stimulus will work, what does the new spending law say about the prospects of private ownership? If greed and excess contributed to the current economic state, are we setting a precedent that the government will bail us out in all such occasions? Do Americans still feel any personal responsibility for accepting mortgages on homes they couldn’t afford? Did we ever share such a sense of responsibility?

Back to the “will it work” question. I am not aware of a recession that was resolved by spending without tax cuts. I am hopeful we can avoid an onslaught of inflation created by spending money printed on paper alone.

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