This stimulus package will:
• Hurt economic recovery by elbowing aside private borrowers and consumers as the government goes to the front of the line to borrow adequate funds to cover its deficit.
• Invite massive inflation in the future as consumers and businesspeople sit on most of the money until times improve. Then, when confidence begins to return — no thanks to the stimulus package — they will deluge the economy with money, triggering massive inflation.
• Expand government and spend borrowed money on projects that may have some long-term merit but are scarcely our top priority right now.
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