The largest spending bill in history was passed this week. The so-called "stimulus" bill, a $787 billion monster, was passed by the Democratic majorities in the U.S. House and Senate, with near-total opposition by Republicans, who viewed the bill, delivered at 11 p.m. the night before the vote, as a thinly-veiled spending bill of Democratic campaign promises.
Including interest costs, the bill will cost taxpayers well over $1 trillion when all is said and done, and the resultant hike in inflation will devalue the American dollar.
President Barack Obama will sign the bill into effect on Tuesday.
This story was at the top of the news in the AP all week. These stories have varied in slant, focusing on either the need for action or the long-term repercussions of massive U.S. debt.
The relevance should be obvious.
http://www.washingtonpost.com/wp-dyn/content/article/2009/02/13/AR2009021301596.html?wpisrc=newsletter
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