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Free Money Gets Spent

Wednesday, September 2, 2009, 1:21 PM
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These days, it is nearly impossible to avoid the financial propaganda that is constantly spinning things to the positive.  One thing I never see mentioned is the fact that a lot of our "recovery" stands only to prove that people will take free money and spend it.

We have a rather expensive proof of the obvious in play here.

We've got $4,500 Cash For Clunkers vouchers, $8,000 tax credits for "first time" homebuyers, an additional $10,000 new home purchase kicker in CA, and more than a few additional quiet government subsidies.

 

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