ONLY FOOLS BELIEVE THAT "MAKE-WORK" STIMULUS PROJECTS AND HIGHWAY SPENDING, INFRASTRUCTURE SPENDING WILL CRATE JOBS-THESE DO NOT CREATE PERMANENT JOBS
Posted by Sterling Cooper Wednesday, March 17, 2010 at 11:51 AMDo not be under the illusion that the various make-work projects proposed by the reckless politicos in Washington through so called stimulus spending, are going to either jump-start or cause an economic recovery to occur.
These are simply projects financed by money we have borrowed from China that we do not otherwise have that will cost us billions and billions in future interest payments, and these costs will not be at the currently ridiculous low interest rates.
The interest rates, as low as they are and not causing a rush of borrowers to get loans, are they? That's because the businesses that need the money the most, small businesses, do not qualify for credit...so low rates mean nothing if a business can not qualify to borrow any money!
As the USA loses its triple A rating due to its enormous debt burden, and its ability to actually repay the loans ( which will never really be re-paid, only re-financed, over and over), our grandchildren will be facing the burden of this enormous debt load and the resulting crushing taxes that must be imposed on future populations.
Lastly, if the various health care proposals pass, and actually become law after the expected Supreme Court challenges, the unsustainable entitlement created by this legislation will crush the dollar's value ( and perhaps that is the real plan of the government) and burden every saver as the buying power will erode significantly.
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