Helpful in the short term, but it will add to the deficit

From Mankatofreepress.com:

Unfortunately, passage of the bill would require that the federal borrowing limit be increased $825 billion to $12.1 trillion. That expansion of debt would bring the increase to $1.5 trillion or more than 10 percent since last October. That should still be a concern to both parties.

The Chinese, Japanese and Saudis, who hold much of the U.S. debt, may not be willing to endlessly fund our consumption and deficits while getting a paltry 2 to 3 percent return, argues Peter Schiff, president of Euro Pacific Capital, in an opinion piece in the Wall Street Journal.

When they need their investments to fund their own domestic problems, there may be a decline in demand for U.S. debt that would push interest rates up exhorbitantly and choke off any prolonged stimulus we might plan.

So while Republicans and Democrats appear to be working together to solve the economic problems, they should remember: They may not be the only ones at the table when the debt comes due.