Yes but today we don't want to declare war, draft, ration, sell War Bonds, and put Rosie the Riveter in the factories. Afterwards we created the post-war industries with jobs to provide exports to the world. Today we make war on words and rally the nation with 'shop till you drop' and after you drop we will borrow some more money from China and mail you a stimulus i.e. 'booster shot' to mall some more.
Whether we have a formal declaration of war or something less than that doesn’t change the fact that we are at war. To win this war we don’t need a draft, or rationing, and if the Chinese want to finance it for us it’s fine with me.
As far as the “stimulus” check we’ll be receiving later this spring it is nothing more than an increase in the personal exemption. It may not be perfect but it’s better than nothing. I do not believe in “shared pain is good” economics.
Man, it’s nice to read a post written by somebody who knows what they are talking about. Thank you for the refreshing dose of economic common sense.