According to this article, the current stimulus package (at $789 billion) is single-handedly larger than the GDP of all but 14 countries in the world. Some would argue that it’s a big bill for a big problem. But is a bill that is larger than 157 countries’ gross domestic product really the answer? It’s like creating a whole other economy on the fly. If that’s the case, why is President Barack Obama pushing to have the bill on his desk so quickly? Wouldn’t it be prudent to discuss the problem and find actual working solutions? Sometimes, it is best to be conservative in approach, even if the end result isn’t conservative at all. We can come up with cute names like “porkulus” and “spendulus,” but it can belittle the growing problem that something must be done. The problem is, we must find a better way to do it that spend more in one bill than in any other U.S. bill in American history.

What’s worse, if the temporary programs listed in the package become permanent (think Social Security and the New Deal), we could be looking at a total cost of $3 trillion. There are only four countries with higher GDPs: the United States, Japan, Germany, and China. That’s like making another economic super-power!

One Response so far | Have Your Say!

1. 

   Nick
   February 13th, 2009 at 9:13 am #

   The number I like even better was the big reveal that the all of the stimulus cash would pay off 90% of every mortgage in the United States.

   Now THAT would stimulate the economy!

   –Nick
   http://www.RightMichigan.com