Projected US Federal Budget Deficit (Source: examiner.com)

The stimulus bill has passed the Congress and awaits signing by President Obama.  The AP reports:

President Barack Obama, savoring his first major victory in Congress, said Saturday that newly passed $787 billion economic stimulus legislation marks a “major milestone on our road to recovery.”

Speaking in his weekly radio and Internet address, Obama said, “I will sign this legislation into law shortly, and we’ll begin making the immediate investments necessary to put people back to work doing the work America needs done.”

Now I have to say that the term “stimulus” is euphemistic for “wasteful government spending”.  But the term “investments” for this bill is ridiculous.  If the US government doesn’t raise sufficient money to cover this deficit, it will lead to inflation.  Inflation is form of robbery.  Do you have a savings account?  At 20% inflation like what we had during the Carter years (I was alive in those days, I remember it), your savings account will have lost 1/5 its value in one year.  In five years its worth nothing.

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