fixin' for a stimulus
You can always count on Congress to pull it together when disaster occurs. National monument hit by terrorists? Hurricane washes away port city? Credit crunch tips off recession? Congress drops its partisan theatrics and grabs a moment to whip out the checkbook and actually make itself useful.
The skeptic in me - which never doubts the Senate's ability to bollix a popular bipartisan plan - was partially shamed this week when Congress sent the president a stimulus package that most politicians and economists could at least nod approval at, if not jump for joy over.
But my inner cynic still sighs and wonders why it's so easy for Congress to act nobly when they don't have to pay the price for doing so.
Now, I know many out there think the whole stimulus shebang is at best a misguided effort to prop up the economy in the short term while avoiding issues of long-term economic stability - and at worst a political sham to buy our love with a $600 shopping spree. I'm not with them. The nature of a "stimulus" is to give a short-term boost (like grabbing a latte or popping chocolates to keep you going at work) and not serve the economy's general wellbeing (like eating your greens and going to the gym). Whether or not a $150 billion cash handout will work is another issue, but enough economists think it is needed effort to justify giving it a try.
But while Congress is probably doing the responsible, grown-up thing by quickly - and relatively rancor-freely - signing off on a stimulus plan, as it did when it funneled money for Katrina recovery and to help the victims of 9/11, you can't help notice a pattern... that Congress only grows up when giving out free money.
It's free money 'cause you, I and our country aren't paying for it. "Emergency" funding doesn't have to follow normal budget rules and so gets easily plopped onto the national debt - to be paid for by future generations, that is, if our economy doesn't tank and we default on our loans first.
Of course, nothing makes a politician happier than the chance to ride in to the rescue at no cost - and by most accounts, our economy needs the RedBull shot Congress gave it this week. So you could say the stimulus bill is a win-win.
But that doesn't mean I have to be proud of Congress for doing the right thing. And it sure doesn't mean our future taxpayers will be feeling like winners.


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