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Breaking: Senate Passes Stimulus

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Yashmak2/10/2009 12:38:20 pm PST

re: #349 quickjustice

I’m not sure that’s correct. This bill spends money over several years. Can’t the next Congress, for example, affect that?

Given all the noise Obama has been making about how this is needed “right now”, I doubt there will be much of the money left in 4 years. Hell, half the FIRST 700 billion has already been spent, and it’s been all of 6 months?

If the next congress were any more fiscally responsible, a big if, and if there was any money left, an even bigger if, then yes, they could affect what was left.

I just don’t think there’s going to be anything left. Moreover, I doubt we’ll even be able to look back and say with conviction “That stimulus package definitely helped”.

Our economy is so big, and the credit/housing/etc crisis so severe, that even this stimulus fiasco is tantamount to trying to put out a forest fire with a bucket.

The markets know it, and are simply reacting accordingly.