Hope is Also Poor
and a sucker
The Seven P’s of the FBI strike again.
The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages.
General Motors plans to invest $1 billion in Brazil to avoid the kind of problems the U.S. automaker is facing in its home market, said the beleaguered car maker.
Stopping just short of a take-it-or-leave-it stand, Obama has mocked the notion that a stimulus bill shouldn’t include huge spending. He’s also defended earmarks as inevitable in such a package. And he’s pointedly reminded Republicans about who won the November election.
CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower Gross Domestic Product over the next 10 years than if the government had done nothing…
Change: ∅
Hope: ∅
Posted by Claire on 02/09 at 07:26 AM
Not everyone might be acquainted with the “7 Ps”. I learned it from an ex-Air Force friend:
Prior Planning Prevents Piss-Poor Performance.
I’m sure there’s an economist out there who can reasonably explain how borrowing $9,700 million can get us out of debt.
But still, if His Wonderfulness tells us it’s true, then it certainly must be.
Posted by ZZMike on 02/09/09 at 04:39 PM
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