The stimulus bill is not $1 trillion after all but $787 billion is no small number either. Our president will likely sign off on it to become law as early as Monday. Since we can’t foresee and compare the future with and without the bill, it’s almost impossible to give an objective opinion on whether this is actually a good thing or not. One thing for sure though is that we (the tax payers) will be paying for it for a very long time, and that the Chinese government will become even more important to the states as they will likely be the buyer of our debt.
What do you think it’s next for the government? Are we going to get a 3rd stimulus bill?
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{ 4 comments… read them below or add one }
The new stimulus bill is certainly large and we are printing money like there is no tomorrow. I think inflation is next in line… But who knows?
Thanks for the mention.
How can you print all this money and not expect inflation to have a big run. So how much stimulus bill’s have been passed now, I’m having trouble keeping track?
I think the whole situation is tough, not great decisions to be making it is still a big figure. Can they print bills off fast enough to solve the situation. I think there is nothing that can solve this problem in the short term.
Personally, the recession is not affecting me. Mortgage and debt free helps and have gotten two raised in the past 2 months – and bought myself a new-to-me pickup truck 2004. My garden keeps the grocery bill under budget, and my vacation air travel cost about 2/3’s of the usual cost. My investments were very conservative and were barely touched in value.
However, I do see it affecting my grown children. Son who works at a log mill has been laid off about 2 weeks out of every month for the past 4 months. Daughter who is a bartender has reported less hours and less tips, which leaves her more time for college and studying for her nursing degree – a mixed blessing of time instead of money. Farmer son just saw milk payouts to farmers drop 30% – that’s one heck of a big cut!