Sunday, May 4, 2008

Over Medicating

How long would you keep you doctor if he or she diagnosed you with high cholesterol and prescribed an expensive drug to lower it. Then, before even taking the first pill and seeing if the drug will work, the doctor immediately takes another blood test. From that test the doctor decides that your cholesterol is still too high and prescribes twice as much of that same cholesterol lowering drug. As a result of too much medication, your liver fails. Wouldn't you think the doctor was totally whacked? I suspect you'd be seeing that doctor in court. That is, if you survived!

Well, in a way, the Democrats are a lot like that Doctor. Before the stimulus checks are even being put to work in the economy and before the effects of all those credit and housing bailout plans take any effect, the Democrats, in their weekly radio address, are calling for a second stimulus package (See Full Story).

I know it's an election year but we can't go crazy. You can't, in order to buy votes, just tell Americans to open their mouths and we'll just keep pouring money down their throats. The logic that more is better isn't reasonable; especially in light of the fact that the economy may or may not actually be in a recession (See My Posting of Yesterday). Any more stimulus to the economy may actually cause an adverse effect. Sort of like losing your liver because the Doctor (in the example above) over medicated you for your high cholesterol problem. Similarly, we could cause rampant inflation if we add too much stimulus to an economy that is already experiencing inflation. Then, we'll have a new problem that will cause America and Americans to suffer even more. Believe me, a recession is ten times easier to fix than run-away inflation. Just as lowering cholesterol is ten times easier to fix than liver disease.

Why don't we just wait to see what the results are in the next economic report (the Gross Domestic Product Report) in July and, then again, October before we do anything else.

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