Funny how it's different when it's your money. Just ask China:
"Premier Wen Jiabao's message is unlikely to be misunderstood at the White House. It is counting on Beijing to help pay for its stimulus package by buying U.S. bonds. China already is Washington's biggest foreign creditor, with an estimated $1 trillion in U.S. government debt. A weaker dollar would erode the value of those assets."
Anyone with half a financial clue, [like people on Wall Street] ... realize that this is just a farce and even people behind it are starting to back peddle.
"I'm approving it but don't waste it — or else."
"I'm signing it but I'm not behind all the special interest line items."
The problem is for the average American who pays their bills and repays what they borrow, it just defies common sense:
Who spends tons of money when they're losing tons of money?!
How does going into deeper debt fix bad debt?!
How does propping up poorly run companies make them fix anything?!
Isn't this sort of reckless, "borrow against the future" thinking what got us here!? How do you take money from people without jobs, process it through a bureaucracy, then try to help them by returning a fraction of what they put in?! I'm just saying.
I guess China is no AIG.
We are NOT pre-approved for a 30 year mortgage we can't afford at a 60% debt level.
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