Economic Stimulus and Borrowing from Olivia
January 24, 2008
What? You want to know if we need the money? Honestly, no. We are doing fine, but your Uncle Sam thinks we ought to go out and buy some electronic crap from China. He thinks it will boost the economy and he doesn’t think you will mind paying it back someday.
Well, you are correct. This isn’t the only loan Uncle Sam is taking out in your name. But don’t worry, Uncle Sam knows what he is doing.
We aren’t really sure what we will do with the money yet. We have thought it would be cool to have one of those new flat screen TV’s you can hang on the wall. I don’t think $600.00 is enough for that. Grandma sure would like to buy an 08 Malibu, but $600.00 won’t even cover the tags, so that one is off the table. I would like to buy a Zero-turn lawn mower, but those run you at least three grand for a good one.
You know, Olivia, the more I think about it the more I feel like you are short-changing me. After all, if I am going to do my part for the economy I am going to need a few more Benjamins.
Well, yes I guess you are correct. Other’s are borrowing from you. Yes, your grandpa and grandma Smith are going to get their $600.00, and your mom and dad will get $900 because Uncle Sam is going to let them have $300.00 for you too, although you are too young to enjoy the shopping spree. Well, yes I suppose you might have to pick up the tab for your Uncles and Aunts if they don’t have their own children. I know that there are all those non-related people that you may have to pay for also. Well, sure you are going to have to support my Social Security and Medicare payments, but that is at least 20 years away. I’m counting on you having a good job by then.
What do you mean you can’t afford all this debt we are putting on you. Olivia, don’t be so selfish. Just let me enjoy the free ride and you can worry about paying for it later.
Love,
Grandpa
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It’s nice of our kids and grandkids to jump in and boost the economy for us.
I’d like to know who the brainiac is behind the scheme to borrow money from China and then encourage us to use the money to buy stuff from China. Exactly which economy are we stimulating?
Or are we going to borrow the money from the Fed instead to make absolutely sure that the inflation rate for 2008 hits double digits?
It won’t be a boring year, that’s for sure.
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