Of course it would be bad. We've been artificially propping up the economy for years now.

What would be worse would be to continue what isn't working only to suffer the consequences down the road.

You can't fix over spending, public or private, by borrowing more money.

There is no fix to the economy that does not involve some kind of pain and sacrafice. To avoid that is only delaying the inevitable and compounding the original problem. Fixing the federal deficit should involve heavy cuts and temporary tax increases at the same time. Once balanced, a balanced budget proposal should be made and the federal income tax eliminated along with the dissolution of the IRS and the Fed Reserve Bank.

Here's something that'll suprise you about me. I think the Bush tax cuts should be allowed to expire. We couldn't afford them when they were implemented and we don't deserve them now.

The scary thing about giving the federal gov't more money is it's a cold day in hell when they decide to give some of it back to those who contributed when the problems are solved. If they're ever solved.
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On a long enough timeline the survival rate for everyone drops to zero.