Wednesday, February 25, 2009
Stimulus Today, Disaster Tomorrow
At best, the stimulus package may be able to stave off 1-2 percentage points off the unemployment rate. But I certainly don't expect it to generate 3-4% GDP growth which is the kind of growth needed to sustain our standard of living with population growth. I expect a very meager and weak recovery at best. Obama plans on letting the Bush tax cuts lapse which during a soft economy is a recipe for trouble. One thing is certain--the massive debt will create rising inflation. And it will eat into the value of dollar and it will make a strong recovery elusive. We are headed for some tough times.
HT: Liberty Pen
Subscribe to:
Post Comments (Atom)
2 comments:
Get out of debt as quick as you can and lay low when it comes to investing.
Tough times are ahead, indeed.
Paul
Eat Well. Live Well.
PurpleGreenPops.com
Evidently there are a few of us out there with a brain. Here's a good example: http://crackedworld.com/2009/02/14/stimulus-the-5th-basic-food-group/
None of them would be liberals though.
I have been hearing the same thing from every other conservative blogger one thing is for sure. When not if but when this blows up in his face he won't be able to blame Bush for it. He'll try but the entire Republican party will say in one resounding voice "I told you so", except for those three turn coats:Spector, Snowe, and Collins. We all know who they are.
Its a cracked world!
Post a Comment