It would appear that H.R. 1 has passed both the House and Senate and is being ironed out before being presented to the President. (Note to New Hampshire residents: I’m not sure you’re getting your money’s worth out of Judd Gregg. He didn’t vote. Also a note to Minnesota residents: You might want to elect a senator at some point soon. It seems important.)
What is H.R. 1? Why, it’s the “American Recovery and Reinvestment Act of 2009”, an attempt to deficit spend $850-ish billion dollars in a way that will “stimulate” the economy.
I’m not sure this is a good idea. A little bit of debt is good for the soul. But with a GDP of $13.84 trillion, is having a national debt of over $10 trillion such a good idea? (And it’ll be over $11 trillion by the time H.R. 1 gets signed into law.) I mean, having a mortgage is one thing, but this is almost like having credit card debt that equals your entire yearly pay. (More, in fact!)
So while I’m sure there are provisions in the stimulus that effect me, I’m not sure that saying “figure this out” to the people causing the problems wouldn’t be a better idea.