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Federal stimulus will delay recovery
Letter to the editor
I believe the celebration of the end of the recession is premature. The fundamental reason for the increase in GDP is almost entirely government interventions. Can you say "cash for clunkers" and "$8,000 credit for first-time homebuyers?" The third-quarter growth was driven largely by a 23 percent increase in residential construction and a 22 percent increase in durable-goods purchases - mostly automobiles - and a 2.3 percent increase in government spending.
The end result of the government "stimulus" will be to worsen the condition it is meant to cure.
We are only pushing the day of reckoning down the road. Until the American people, senators and congressmen learn to resist government stimulus as the cure for economic ills, genuine economic growth will never return.
Ron Gilley, Hesperus
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