I’m all for the concept of spending money to make money, but this is a little too much for me. Headline from the National Association of Student Financial Aid Administrators Newsletter . . .
The federal budget deficit will reach $1.2 trillion for the 2009 budget year, according to Congressional Budget Office (CBO) figures issued yesterday. The estimated budget deficit is larger than the previous record of $455 billion, represents about 8 percent of the economy, and could be larger if Congress passes an additional economic stimulus bill which could cost $800 billion or more.
I’m no economics expert, but might we be digging ourselves into a bit of a hole?
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It really seems like going further into debt is a bad way to stimulate the economy. Most people will just save the money anyway, which won’t help the economy. The last stimulus plan really didn’t help very much either.