Economic Viagra: Stimulating the U.S. Economy By Bill Glynn

Trillions of new spending + Trillions added to the deficit over the coming years

Let's face it: America is on its back and largely impotent - unable to change our economic woes anytime soon. All the stimulus packages being flaunted around D.C. may have a near term jobs increase which is much needed but at what price? First, the Fed, economists and our leaders all are now predicting the U.S. economy is going to be terrible for the next few years if not more. I hate to be the one to tell you the writing was on the wall a year ago when I started to RANT about this doomsday. Second, the solution being offered is to print money 24-7, borrow huge sums of money from around the world, and spend the borrowed money like crazy to stay afloat. Well wasn't that what got our financial industry into trouble in the first place?

With certainty our politicians are telling us that we will be racking up trillion dollar deficits annually for the coming years. And the U.S. is printing so much money now that I predict inflation will be a huge factor in the perpetual stagnation of the economy. Add in unemployment, underemployment, bankruptcy, foreclosure, bad credit; with that and not going into detail, America on the whole and our states, municipalities and industry after industry are bankrupt. If they haven't declared it yet, they will. How does that look for future bond offering or raising capital or working with the already risk adverse banks? You got it! Very bad! [more...]