Harry's Gang: A stimulus now churns into debt fovever
April 3, 2020
It’s been called the “Overnight Recession” by some economists. Just weeks ago, the economy was humming along. Suddenly, stock values dropped; people are out of work; and economic uncertainty is scaring the pants off many.
So the government’s reaction to pump $2 trillion into the economy is an interesting tactic. It’s welcomed by most, which explains why the stimulus bill passed with huge support from both parties.
I am concerned. This is not some rich Uncle Sam handing out quarters to his nephews and nieces at Easter dinner. No, somehow, the stimulus money will need to be paid bac...