Wharton Study Warns Biden’s Expensive ‘Stimulus’ Plan Will Hurt Economy in the Long Term
How’s that for ‘stimulus?’
In the 'duh' category... So-called economic "stimulus" inevitably hurts the economy in the long run. All those shouting for more money spent by the government don't bother to consider the long term consequences.
The problem is that all this money that the government spends is essentially borrowed money. It is money that has to be paid back in one form or another. That payback can take many forms. It could be higher taxes. It could be higher inflation that robs people of their savings. This means that those bearing the greatest burden of all this new debt will be those on a fixed income and future generations...our children and grandchildren and probably beyond.
To add insult to injury, the government lies to us and tells us that the money is for COVID relief. The truth of the matter is that the vast majority of this incredible borrowing is used for things that have nothing to to with COVID or COVID relief.
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