This Ball Will Keep Rolling

Stan Collender, a federal budget guru and blogger, recently wrote an article for Roll Call in which he tries to point out that the economy needs steady recovery, not an ER style infusion. While I tend to agree with his assessment, I do not condone his acquiescence to the fact that Congress will (and seeming should, according to his tone in the article) pass additional "stimulus" measures. I cannot get on board with this point of view.

Congress already approved a $700 billion bailout for the financial sector. In effect, they approved an unreal amount of money to give to companies that drove themselves into ruin. Rather than allowing the market to weed out the unsuccessful, irresponsible market navigators, the government is giving money to companies that proved they don;t know how to properly use it. Now, Congress is in the final stages of approving an $800 billion "stimulus" bill, aimed at helping so-called "main street" recover. Despite the fact that CBO estimates do not show these "stimulus" programs as actually helping the economy in the immediate future (as Congress claims), Congress is already considering moving on with additional legislative measures.

Rather than waiting to see if their course of action is the correct one, and if their programs will have the desired effect, they go full speed ahead to the next disaster. Democrats went on and on during their time in the minority regarding wasteful spending, and sticking future generations with the bill for our mistakes. Now that they have control of he government, they are continuing the failed policies of the Republican majority. Rather than waiting to see if the $1.5 trillion that was approved over a 5 month period actually helps, they are setting to dig even deeper into the debt to thrown more money away. Unbelievable.