A trillion here and a trillion there and pretty soon…
today at 1:23 pm
you’re talking about real money.
With estimates that the Senate stimulus bill will cost some $2.5 trillion, the late, great Illinois Republican Senator Everett Dirksen came to mind.
He was famous for having said, “A billion here, a billion there, and pretty soon you’re talking real money.” (However, in one report he said he didn’t say that, but he let it stand because it sounded so good.)
So, with U.S. debt flying past the $23 billion mark already, what’s another $2.5 trillion, one might ask. A Fed official said that the central bank’s ability to create money is unlimited, so, what the hey?
Have we lost our minds?