-0- We are likely entering a recession now. (We are not officially in or out of a recession until the Cycle Dating Committee, a private/public group, examines a bunch of data to date the beginning or ending. It takes a couple on months to get and sift the data.)
-0- The checks the politicians are talking about sending out is the right thing to do. It won't stop a recession, but it might make it shorter and less painful.
-0- It is best to send checks to the poor and middle class because they will spend it and it will bounce around in the economy as it is respent, respent, respent...
-0- However the gov't has no money to send to us. The money will have to be borrowed from the Social Security Trust fund (to which the gov't already owes gazillions of $$) or borrowed in the form of gov't bonds which will likely be sold to Chinese, Indians, or Europeans. One day they may stop lending us money because we such a big federal debts.
-0- Nevertheless, the politicians are falling over themselves to supoort the idea because an election is coming. They want our votes. What better way than to buy them?
If you want to know more I can bore you for a couple of hours more on this.
Prof. Grandpa the grump
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