Mr. Rawles,
On June 27, 2008 the following Associated Press headline was on Yahoo Finance: After-tax incomes and spending show big gains [1]. “The millions of economic stimulus payments gave a massive jolt to household finanances (sic) in May, sending after-tax incomes up by the largest amount in 33 years.”
Q: Does borrowing money from the next two generations, while saddling our grandkids with principal and interest repayment obligations to foreign countries really now count as “after tax income”?
A: Not to regular SurvivalBlog readers.
Regards, – Kevin A.
JWR Replies: Those with the Big Government mindset would answer: “Oh, but we just owe it to ourselves!” Or as J. Wellington Wimpy, from the Popeye comic strip would say: “”I’d gladly pay you Tuesday for a hamburger today!”
FWIW, I’m planning to spend my IRS [2] “stimulus” check on some more full capacity magazines (aka “high capacity” in the liberal lexicon) and some .45 ACP [3] ammunition, while they are still somewhat affordable.