Congress Passes $1 Trillion
Stimulus Spending Bill
DECEMBER 14, 2009
Filed Under : Inflation
“The Senate on Sunday sent President Obama another hot potato, passing a $1.1 trillion catchall spending bill that includes money needed to run dozens of government agencies but also is loaded with pork-barrel spending.
“The bill, which funds most domestic federal agencies for the rest of this fiscal year, marks a 12 percent spending increase. Democrats said the spending was needed to counter neglect during the past eight years and that the money would act as another stimulus to create government jobs.” (Washington Times, Monday)
A trillion here, a trillion there, pretty soon it adds up to real inflation.
FEE Timely Classic:
“The New Deal and the State and Local Governments” by Robert Higgs