An Interesting Question

This morning my wife and I were talking about the $787 Billion Stimulus Plan that Obama signed yesterday. The discussion prompted her to ask an interesting question: “What happens if the Stimulus Plan doesn’t work and the people and countries that the United States government is borrowing the money from demand to get paid RIGHT NOW?”

As of February 4th, 2009, the National Debt was something over $10 Trillion, which includes the previous Bush Economic Recovery Plan but not Obma’s Stimulus Plan nor the next one they are working on that is expected to be over another Trillion Dollars.

According to the “National Debt Clock”, about 40 percent of the debt is held by “Government Accounts” (whatever that means) and about 25 percents is held by “Foreign Accounts”.

So, it’s a good question—what happens if it doesn’t work? And what happens if the Foreigners want their moeny NOW or worse yet won't loan us any more?

Grumpy

Grumpy why are you worring about whether it will work I talked to my US representative and he had three hours to read the 1,100 page document with that much time to reseach the bill I'm sure they thought it will work or they would not vote for it. By the way he is a slow reader so he did not vote for it.

Beep beep

But I'll bet he read the travel brochures on where to spend his cost of living raise

It's going to work...temporarily that is. Heck, anytime you're throwing that kind of money at road construction and construction in general it's going to have an affect, it's going to require people to go back to work, etc...but to me it's sort of like the auto bail out. Sure the auto bail out will save jobs for now, but what about the long term? What do the auto guys have in place to ensure they don't lean towards bankruptcy again? Same thing applies to this B. S. Stimulus package...throw all the money you want to at it...but what plan is in place to make things run nice for the long haul?

My own .02 cents worth.

I've only been on this earth 30 years, but in my short tenure here I've learned with dang near absolute certainty that throwing money at a problem rarely fixes it.

Now, it might numb the pain a little, but it won't heal the wound.

[QUOTE=MrSplitshot;355962]I've only been on this earth 30 years, but in my short tenure here I've learned with dang near absolute certainty that throwing money at a problem rarely fixes it.

Now, it might numb the pain a little, but it won't heal the wound.[/QUOTE]

Your a smart 30!

In 72+ years I have found that ignoring it dosn't seem to work either.

by the way split shot, got that shirt, had it now for about 10 years. not the hat though.

[QUOTE=Chubminnow;355955]It's going to work...temporarily that is. Heck, anytime you're throwing that kind of money at road construction and construction in general it's going to have an affect, it's going to require people to go back to work, etc...but to me it's sort of like the auto bail out. Sure the auto bail out will save jobs for now, but what about the long term? What do the auto guys have in place to ensure they don't lean towards bankruptcy again? Same thing applies to this B. S. Stimulus package...throw all the money you want to at it...but what plan is in place to make things run nice for the long haul?

My own .02 cents worth.[/QUOTE]

With that much road construction going on people won't be able to drive anymore!

Well, remember the Soviet Union...that is what happens when your government spends too much and the notes are called due. Luckily we had more credit than the USSR did in the arms race or Reagan would not be such a hero to the right field players.