House Speaker Nancy Pelosi -- who just finished doing a disastrous job in passing a bailout of Wall Street fatcats -- has been encouraged by Sen. Barack Obama's place in the polls and wants to pass a $150 billion stimulus package before Christmas.
Besides a rebate check to you and me, the legislation would include added food stamps and extended unemployment benefits. I'm all for helping people in need. But how much higher can the national debt be raised without doing damage to the futures of our grandchildren?
The debt was raised to $11.4 trillion for the bailout. Congress added a bailout of the auto industry for another $50 billion. The stimulus package would push the debt ceiling to $1.6 trillion.
Stop. Let's take a look at this kind of amassing of national debt. Wall Street got in trouble by encouraging people to take on home mortgage debt. Can shifting debt-amassing to the federal government be the right thing to do? When is there finally a day of reckoning? When does someone finally pay for the party of the past 25 years?
The American people just do not have confidence in Congress to do the right and difficult thing. Allowing us to get in on the booty being dispensed doesn't feel the correct way to proceed.
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