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If Recession is Over, Why More Stimulus?
Posted On Friday, June 5, 2009 at at 2:18 PM by Finance Fanatic
Lately, there has been nothing but positive things coming from the mouth of the Fed and the Obama administration in regards to the current state of the economy. Chairman Bernanke even had the audacity to claim that we should be out of the recession by late 2009. The question I have, is that if everything is looking as good as rain, why on earth are we ramping up for yet another large stimulus plan, paid for by no other buy you and I? My thoughts are that actions speak louder than the words.
On Friday, Vice President Biden announced the plans for himself and President Obama to unveil the new plans for the next stimulus this next Monday. The stimulus roots back to the $787 billion bill that Congress passed in the beginning of the year. If things were looking to get better (which I, unfortunately, do not believe), wouldn't such large stimulus spending be in vain. Perhaps, it's because the government realizes that are recent successes are from massive government spending. So how long do we keep spending ourselves further into debt? Until the dollar has become completely worthless? Beware of more stimulus rallying on Monday as I'm sure they both have a great "feel good" message for the country. The only thing I've really agreed with Obama thus far is him picking the Lakers to win the championship in six.
"Beware of more stimulus rallying on Monday"
How many billions worth of 10s and 30s on auction this week? Watch the rally in bond yields. The worm is turning
"why on earth are we ramping up for yet another large stimulus plan?" ---> more recovery is better than small recovery.
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