Nearly $1 trillion for a "stimulus package"? We are told that if the bill had not become law immediately that our economy may never recover. We heard the same urgent call last fall, and the result was a hastily concocted and poorly implemented program that thus far has produced questionable results.
Given that only a modest percentage of the latest spending plan would be disseminated in the first year, it becomes quite clear that it is not a "recovery" or "stimulus" package at all, but rather a highly political one providing a blank check to be spent on pet social projects.
It seems that some of our elected officials view a time of national economic distress as the ultimate opportunity to push through billions of dollars on additional spending that will not address our immediate needs (so much for transparency).
The Congressional Budget Office (actually bipartisan) has concluded that the "stimulus" might have only minimal short-term impact on the economy and could actually be damaging to the private sector in the long term.
Few would disagree that we must make hard choices as to what combination of expenditures and/or tax relief are necessary. These choices are far too critical to be rushed through by invoking the urgency of Chicken Little.
Government, as we know, cannot create wealth, it can only spend it. Apparently, many in Congress feel it is imperative to plunder the earnings of future generations in order to secure our stability. In my view, to believe that government spending alone is the answer to our economic woes is to sell American ingenuity and perseverance short.
We have heard much lately about accountability and discipline, and as we apply these principles in our personal finances, we should demand that our "public servants" in Washington act in a prudent and responsible manner as well.
Carl P. Smith, Durango