Thursday, July 9, 2009

Not Helpful

$787 billion later, the U.S economy is still in the toilet, and U.S politicians are panicking.

That’s the only reason I can think of when I read that some U.S. leaders are proposing a second stimulus package to jolt the U.S economy out of a recession that just refuse to end. Despite all the talk of ‘green shoots’ and ‘the rot has stop’, the U.S economy has not recovered and it’s still causing job losses.

Count me in as one of those who are skeptical of more stimulus spending. I agree that the $787 billion stimulus package has not had the desired effect, but if $787 billion can’t do the job, pumping more money in the system will not help either. Let’s be serious; if a $787 billion stimulus package is not enough, what kind of number will be?

None! If a $787 billion stimulus package is not enough, then America need to change their strategy because a second stimulus package will be like pouring good money after bad in a losing business.

Personally I think the Americans should just wait and see if any of those ‘green shoots’ pan out. With all the problems the U.S economy is facing, it’s understandable that U.S politicians are panicking but a second stimulus package will not help.

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