Primarily what the "Stimulus" spending does is paper over the budget cracks for State and Local Governments with Fed deficit spending so the locals don't have to make any though choices to get their budgets in line with their shrinking tax base. The "Stimulus" spending going on now has almost no is impact on future economic activity! It merely prevents the economy from fixing itself by delaying the day of reckoning for local and state Governments. All they are doing is prolonging the pain
Yep! And, increasing its intensity. The longer this snowballs, the worse it will get.