To read the whole story about the house of representatives passing the stimulus bill, CLICK HERE.
This bill is chalked full of spending that has nothing to do with stimulating the economy. Philosophically, I disagree with spending and building infrastructure to stimulate an economy. I think cutting taxes stimulates an economy better, because it puts more money into the hands of businesses and individuals. When businesses have more money, they have more room to expand and create jobs.
Next, the bill will go to the Senate, and they will banter back and forth for a little while about it. Democrats have enough votes to get this thing passed without any Republicans voting for it, so all of the hoopla and debate is trivial. I really hope this works for the sake of the country, but my gut tells me that it won’t work based on common sense. It’s not different than someone with a financial crisis and $100,000 in debt decides to borrow 1 million dollars to get out of the mess. Would you do that? Then, why is our government doing it?
What’s your take?