Posted by
The CL Project on Monday, January 12, 2009 5:39:27 PM
What's a TRILLION dollars amongst friends?
Faced with a federal budget deficit
projected to reach an unheard of $1.2 trillion this fiscal year and a
skeptical public, Democrats are doubling up efforts to sell their
economic recovery plan. Yet President-elect Barack Obama's economic
stimulus package, pegged at another $800 billion, would only add to the
deficit.
That's on top of a $700 billion financial rescue, a $17
billion auto bailout and the first $150 billion stimulus (that's the
one approved right before the worst economic crisis since the Great
Depression).
The national debt already has topped $10 trillion
-- or $35,000 per person. And the bigger it gets, the more the country
has to pay in interest every year. But the deepening recession creates
the opportunity for federal intervention and government experimentation
on a scale unseen since the New Deal -- and that is just the window
Obama and crew need to enact the "change" he desires
With Economists warning against more stimulus and bailout plans, where does it end?