The legislative branch has just mustered all of its intestinal fortitude to give away a trillion dollars of borrowed money. The executive branch's justification/exhortation for this exercise, in credit-card fiscal policy is that it will stimulate the sluggish economy and thereby forestall some manner of "catastrophe."
Well.
Set aside for the moment whether we are truly on the brink of economic oblivion (call me Calvin Coolidge, but I don't believe that we are), would the trillion greenbacks soon to be sprayed forth from Washington accomplish anything beneficial for the Republic? Will the stimulus of Obamanomics restore us to the sunlit uplands of prosperity, and more importantly, ravenous consumerism?
I refer you to a February 6th New York Times article on Japan's similar adventures in "stimulus." Obama and the Democratic Congress are taking us down the same path that Japan took in the 1990s with massive social spending to stimulate economic growth and erase a painful recession. Did it work for Japan? Read the Times article to find how much it DIDN'T work for Japan...and also read it for a hearty laugh...
To paraphrase Homer Simpson on Ted Koppel, " I found it witty AND informative..."
