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Thursday, January 08, 2009

Get Ready for One Costly Ride

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By Neil Cavuto, Managing Editor & Anchor

FOXBusiness

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Get ready.

Things are going to get expensive.

Very expensive.

And you're looking at stimulus Ground Zero.

Washington. Where the chickens are coming home to roost.

And you're chicken if you dare question the cost.

Here's the deal:

Let's make a deal. And fast.

President-elect Barack Obama says time's a-wastin'! And if Congress dithers, we wither...that things likely will get worse before they get better, but if Washington doesn't move soon, we might as well all move, period.

All right...he didn't say we should all move, things are so bad.

But he did say things are so bad that we might have to spend as much to stimulate this economy as we're in deficit in this economy...

$1.2 trillion.

Think about that.

I'm not here to debate the pros and cons of stimulus...Just its staggering cost.

In blackjack terms, we are "double-downing."

Conceivably taking that $1.2 trillion deficit and doubling it, in the hopes we can win it all back...In this case, by boosting the economy, boosting revenues, boosting jobs, and boosting everything else that needs boosting.

It's a boost of faith -- and to be fair to the president-elect, his poker-face reaction to the bad cards he's been dealt.

But let's be clear:

He has cast his chips...all his chips...with the government.

As he put it today, "only government can break the vicious cycles that are crippling our economy."

Others can and will debate that... As will we...no debating this is the route we're taking.

Get ready. We're in for one heck of a costly ride.

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