Smoke and Mirrows

President Bush's assurance that we are all fine if he and Congress can work out an economic stimulus package seems a little far fetched to me. The President's assurance is about as hollow as our chief money man, Federal Reserve Chairman Ben Bersanke's assurance last May that the sub prime meltdown would be easily contained and never affect the broader economy.
The Congress will quickly pass an economic stimulus package only because they can no longer ignore the finical crisis. The package will only be a short term response to a very complex problem and nothing more that a bandage for an out of control economy. An economy who's problems for the most part were brought on by the failure of the Bush administration to regulate institutions and markets. The irresponsible fiscal policies of the past seven years has lead to a nine trillion dollar national debt which has caused a plunge in the value of the dollar. Quite simply, our political and economic leaders have squandered our nation's wealth and now the bill has come due!
A stimulus package of any kind will not prevent a recession, oh it may stop the bleeding for awhile but a recession we will have. If only our leaders could show the same urgency and willingness to work together in fixing the nation's long term problems that they are showing in handing out election year goodies but that will never happen.
The old saying "Never look a gift horse in the mouth" is as true today as it was years ago so I am sure the cash and tax benefits of the stimulus package will help a lot of businesses and people. Those same businesses and people should also remember the old saying " Be leary of politicians bearing gifts in an election year".