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Looks like we're going to get the pork
Feb. 10th, 2009 10:37 pmSo the US Senate caved and passed their version of the
Backed by the Full Faith and Credit of the People's Republic of China
If there's anything to be gained in this whole experience, it must be the myth that the Great Depression might have been avoided if the Federal Government had only acted quickly enough to prop up those failing banks. Of course, in those days money was something tangible — the equivalent of gold — and hence not something to be treated lightly. In contrast, today's Congress can simply invent A HUNDRED THOUSAND MILLION ZILLION DOLLARS to throw at the problem. How cool is that?
First rule of holes: When you're in one, stop digging
When I was a kid back in the 1970s, people still talked about the national debt as if it were something which had to be paid back eventually. How nutty! No one talks that today. The national debt is a wonderful bottomless well from which flows endless wealth. With that kind of magical thinking, what is the point of fiscal responsibility? Unless something catastrophic happens, of course ... like, say, the collapse of the global credit market?
stimulusbill. And, much like the House's version, what it really stimulates is my gag reflex.
Backed by the Full Faith and Credit of the People's Republic of China
If there's anything to be gained in this whole experience, it must be the myth that the Great Depression might have been avoided if the Federal Government had only acted quickly enough to prop up those failing banks. Of course, in those days money was something tangible — the equivalent of gold — and hence not something to be treated lightly. In contrast, today's Congress can simply invent A HUNDRED THOUSAND MILLION ZILLION DOLLARS to throw at the problem. How cool is that?
First rule of holes: When you're in one, stop digging
When I was a kid back in the 1970s, people still talked about the national debt as if it were something which had to be paid back eventually. How nutty! No one talks that today. The national debt is a wonderful bottomless well from which flows endless wealth. With that kind of magical thinking, what is the point of fiscal responsibility? Unless something catastrophic happens, of course ... like, say, the collapse of the global credit market?
