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RANDY SHAW: Let's Spend Our Way Out?

by rshaw

KREM.com

Posted on October 19, 2009 at 1:12 PM

We are a collective spending economy. Everything depends upon it. We are also a debtor society. Why pay cash when credit will do? So with the current deep economic crisis brought on by bad and massive debt, the solution appears to be let's make more borrowing available and spend our way out of it.

Does this make sense?

With hundreds of billions of bailout dollars creating a tidal wave of money wiping out bad debt and trying the ease the credit crisis, have we set up deja vu?

More money will soon be available to borrow. The more we borrow, the more we spend. More spending means more sales. More sales means more jobs. Wall Street rejoices and the stock market soars. Is this the real solution? At what point do we pay the piper?

Taxpayers are footing the bill for it.

Was there another answer? What do you think?

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