Is the latest value of the latest American stimulus package. (as I write this in O'Hare)
It's cash they intend to borrow, to get the economy running again.
Borrowed, as in it has to be repaid.
The engine of our economic system is consumption. When people want a new car or new shoes that are up to date, they buy those things which in turn drives the economy.
When they get laid off or they get fearful, they don't spend as easily. So today people are not spending.
The government then tries to kickstart the economic engine (consumption) which is sputtering and going out, by spending 780 Billion dollars, and hopefully that will get more people working and spending again and the engine sputters back to life again.
It still has to be repaid, and it might result in inflation down the road but to date it's the only option the nations seem to have come up with.
It just makes me nervous. Too many variables and the basic engine is faulty. Consumption.
Of course it's only the opinion of a pastor who lives in a field.
Who knows how wrong I may be.