Spending to stimulate the economy is a good thing; however, it needs to be targeted towards investments in the future such as education, finding alternative energies, high speed rail where it makes sense, yes domestic oil production and high speed internet.
If government used the same accounting rules as private industries, these items would not be considered expenses. They would be assets to be used to enhance our future productivity, The time to do these things is now when money is cheap and we better do them if we want to compete in the future. The PBS program Need to Know has a segment describing how the country who invented the Internet is falling behind other nations who are investing heavily and leaving us in the dust.
What we don't want to happen is for Americans to consume the way they did prior to 2008. We cannot afford it.
At the same time we have to develop a plan to solve our deficit problem. There is an underlying issue not being addressed by anyone who has a pulpit to the public. Our "free economy" that has created jobs for decades, and even centuries, is being dismantled. It is not being destroyed by a central government; however, the central government is playing a major role in allowing it to happen. We need to Free Our Markets.
The idea of free markets being the way to increase the Wealth of Nations, and thus the wealth of its citizens, was crystallized by Adam Smith. He rationalized that if the producers of goods and services were allowed to pursue their rational self-interest, constrained only by common sense rules preventing one producer from getting an unfair advantage over other producers, the consumers, citizens, would get the best products at the lowest price. Read More