Quote:
Originally Posted by John Drake
You haven't observed that Bush's spending was in another country?
Obama is spending the money here. It will repair and refurbish our infrastructure, (and banks are part of our fiscal infrastructure).
Bush spent the money to blow up things and kill people in Iraq, (which is pure waste, benefitting nobody) and then to build those things up again. (of some benefit to the Iraqis but little to us)
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No it will not, it's not being spent that way. The majority of the stimulus is going to government employees whose salaries we cannot maintain in the long-run without severe tax hikes (which will also not be sustainable in the long-run).
Now, if the money was spent in a better fashion (honestly, not spending borrowed money would have been the best route) and given to people that were forced to spend it on things they wanted, it would have a more positive effect because it would support industry that is somewhat in demand.