Wednesday, February 18, 2009

You now owe $10,000 more.

From ibdeditorials.com

The bill adds $10,000 to each American's debt. No matter how you view it, that's a $10,000 hike in future taxes, not counting interest. We've been lectured often that Americans have become greedy and overly indebted. So how does adding still more debt help? Unless there's an explosion of economic activity directly due to this bill, Americans' standard of living will decline — count on it.

The very word "stimulus" hides a key fact: In essence, we've made a collective decision to let government spend our money for us. We'll see soon whether the 535 wise men and women of Congress do a better job than the rest of us would.

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