…at least when inflation (and possibly hyper-inflation) comes after our “stimulus” kicks in, it’ll be simple to pay off my debt. Granted, that wheelbarrow full of money that I just used to pay off my house will only buy a loaf of bread. That will be 100% awesome!!!
Does anybody really think that spending 875 billion (when the bulk of it doesn’t even hit until 2010) is really stimulative? If we wanted it to be stimulative, how about just giving everybody a $5000 home improvement credit. That would re-stimulate the construction industry. Or how about repealing the capital gains tax for a year and phase it back in. That would stimulate investment in new business which would give people jobs.
Instead we’re stuck with a bunch of the stimulus money coming too late and going to pet projects. And when it hits, the money that the fed has been printing will go out into the economy devaluing the dollar. Otherwise known as inflation.
Speaking of bad news, what do we do in California? Kill car sales with a doubling of the vehicle license fee (forcing people to buy cheaper, aka used, cars) and kill all other sales with a sales tax increase of one percent.
Like I said, “100% awesome!”