Has A Deficit of $1 Trillion Been Worth It?

Remember when the national debt (total money owed) reached $1 trillion, and everyone was concerned that our economy would collapse? Well, this week, our annual deficit (additional money borrowed just this year) crossed $1 trillion, and we're barely half way through the year. So, has all this spending of money we don't have, with near certainty of skyrocketing interest rates and/or hyper-inflation, managed to save our economy as promised, or is it just sending us toward disaster?

Has anybody noticed unemployment has exceeded the projections that preceded the "stimulus" bill for what would happen if we didn't spend all that money? It certainly didn't save the jobs that were predicted. Funny, that's just what I and many others said would happen. So, why are we still planning to spend the rest of that money? What was spent so far hasn't helped. Neither has the promise of the rest of the spending helped.

Now, if more of the money had been spent on infrastructure like roads and bridges, like originally promised, it might have helped some, and it would have had a lasting impact in lasting improvements. Instead, though, most is earmarked for new programs that don't create jobs but rather commit us to bigger deficits for a long time to come.

We should cancel the rest of the spending in that failed legislation, avoid the economic disaster of the so-called "cap and trade" plan, and avoid the economic disaster of the current health care legislation under consideration, and instead stimulate the economy with tax cuts that have immediate impact on job growth combined with massive government spending cuts to keep the deficit from growing any faster than necessary.

Don't believe claims that health care reform as currently proposed will save our economy by controlling costs. It is already projected by the non-partisan Congressional Budget Office to be an addition of over $200 billion to the economic burden rather than lessening it, and remember that Medicare costs proved to be seven times the original projections, so consider that when looking at any cost projections (most of which approach $1.5 trillion in their optimistic view), given that our government still hasn't figured out how to do anything cost-effectively.