Friday, December 19, 2008

The Daily Pfennig cracks me up!

"As reported by the Wall Street Journal...

"Obama's economic team is crafting a stimulus package to send to Congress of $675 billion to $775 billion over two years, according to transition officials. The transition team has conveyed the figures to Capitol Hill, where the package is likely to grow as it works its way through the House and Senate. Obama aides hope to keep the package below the trillion-dollar mark, as they fear being accused of adding too much to the country's long-term budget deficit."

I laugh! As if! As if $775 Billion "won't add too much to the country's long-term budget deficit"! I give up... I really do... The Gov't thinks we are all BUFFOONS! They really do, folks... They are taking us as village idiots, thinking that if they keep it below $1 Trillion, we "won't notice"! "

- Chuck Butler

Yes yes, i agree, as if we don't have enough debt already. I think its funny that people consider us now as Japan in the 90s--that we can spend money/buy bad assets/subsidize losses like they did and create a softer landing. The only difference is our TEN TRILLION DOLLAR DEBT!!! (vs. their 1 trillion reserve--and China's 1.7trln...) Plus, most of these are apparently gonna be mostly on infrastructure when construction workers will probably only make up appx 1/5th of the unemployment coming up (the rest being in finance, retail, leisure/lodging, health/education--don't see them picking up a shovel even if there's a job to do so with). None of this will help solve America's structural problems in its real economy. These short-sighted policies is making my head hurt.