Now you sang that song before the election so many times it nauseates me. You correctly identified a disease; what is your position on the Dem treatment of the disease by spending a trillion bucks more that has to be borrowed?
As I have said before this is a circumstance for which there are NO good answers. We as a country are going to lose much of our economy if we do nothing and we are going to fail if we continue similar to how we have done in the near past.
So, while this approach is going to be bad for long term debt, it is the lesser of three evils. I also think it is going to end up being more than a Trillion and there will be tax increases associated with this recovery on some level, at some point. The revenue stream is just not robust enough to maintain the appropriations otherwise.
Bushie put us in a very very bad position. Had he not deficit spent each and every year of his Administration and had he not run up massive trade deficits we would be in a much better position to be able to formulate a rescue plan that does not include mortgaging part of our future. But we just don't have that luxury.