Including debt service, the cost of the Generational Theft Act is estimated at $1.175 trillion, all of which will be borrowed to be paid by America's children.
Think of it this way: we're going to borrow and spend almost one Russia, or one India. We could buy South Korea or Mexico. We could have our own continent by purchasing Australia and all their handsome actors and actresses. We could have Belgium, Sweden, and still have some pocket change left over for Greece. We could have five Hong Kongs.
Wikipedia: list of countries by GDP
Extra - WSJ "The Stimulus Tragedy": "The spending will take the U.S. budget deficit up to some 12% of GDP, about double the peak of the 1980s and into uncharted territory."
4 comments:
"Conservatives really, really don't want to see a second New Deal, and they certainly don't want to see government activism vindicated. So they are reaching for any stick they can find with which to beat proposals for increased government spending."
"Elections have consequences."
IIRC the unemployment rate during FDR's administration never dropped below 20% even after all his neat New Deal programs.
You do realize that Nicole Kidman was born in the US?
Think of it this way: we're going to borrow and spend almost one Russia, or one India. We could buy South Korea or Mexico. We could have our own continent by purchasing Australia and all their handsome actors and actresses. We could have Belgium, Sweden, and still have some pocket change left over for Greece. We could have five Hong Kongs.
Or, for the cost of the stimulus money (and then some), we could even invade Iraq again.
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