The $819 Billion spending package (it will not stimulate any new jobs or any new productivity - a stimulus bill should create jobs not push social programs) passed the House and is on its way to the Senate. The burden of ownership rests solely on the Democratic party. The vote was down party lines.
I found an interesting quote. FDR’s Treasury Sec. Henry Morgenthau Jr., architect of the New Deal: "We have tried spending money. We are spending more than we have ever spent before and it does not work.”
If Government Spending solved recessions, we would never have recessions.
Another interesting fact: "$819 Billion is equivalent to borrowing $10,520 from every family in America. This borrowed money is equivalent to what the average family spends on food, clothing, and health care in an entire year."
I no longer read newspapers. I leave that job to Bob. He gets two daily publications delivered to the house. I gather my news from the radio, a little from TV, and from the internet on sites like The Heritage Foundation.
Since you are already on the internet, use it for current events. Weather.com is quicker than waiting for "the 8s" or the evening forecast.
'til later
Thursday, January 29, 2009
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