By Matt Towery
Athens Banner-Herald
August 17, 2010
To conjure a feeling of happier times, I recently went to a concert given by rock legend Tom Petty. It was hard not to notice that his band is called the "Heartbreakers." Read on, and I'll detail the point in a way many of you will identify with.
It's been months since I wrote that our economic woes were not going to end anytime soon. That generally was a different prognosis than many, more upbeat economists and analysts were providing.
Now, months after the $862 billion stimulus bill and the promise that it would tamp down unemployment to less than 8 percent, that rate is closer to 10 percent. The new government spending was supposed to spur the economy. All it has spurred is the federal debt, which now is a record $13.2 trillion after a 23 percent jump. The latest spending splurge was a cool $24 billion for "state bailouts" (read: jobs for teachers, a key Democratic Party constituency). And who will bail out Washington when the printing presses run out of green ink?
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