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Originally Posted by dalakhani
Perhaps buying more time can allow you to fix some immediate problems. Something needed to be done. The stock market was at 6500 and heading south. The economy was in freefall.
I'm not going to sit here and say that the stimulus "worked" and the economy is suddenly "better". What I will say is that something had to be done pretty fast and doing nothing at the time would have made the situation dire. People, namely investors, needed to know that the US government wasnt going to stand by and let the system break down.
This stimulus wasnt nearly about gettting and spending money. It was about restoring some confidence.
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Don't confuse Stimulus (American Recovery Act) with the TARP bailouts. TARP may have been a necessary evil (that I was totally against) the stimulus was a spending binge.
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"After a shooting spree, they always want to take the guns away from the people who didn't do it. I sure as hell wouldn't want to live in a society where the only people allowed guns are the police and the military."...William S. Burroughs
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