More money?

Reports are indicating some Democrats in Washington, D.C., are discussing the possibility of another stimulus package.

Isn’t it a bit early to think of doing it again?

The $787 billion stimulus plan went into effect roughly five months ago and only $100 billion is making its way into our economy now, according to news reports.

It is a lot of money and should help, but shouldn’t we wait until it is all spent and we can better judge the effect on our economy?

The Republicans are arguing President Barack Obama’s spending is setting up the country for worse economic times.

Congressman Doc Hastings, R-Wash., said the current budget proposal is a 28 percent increase over the last budget approved by George W. Bush. It will push annual deficit spending from 3.2 percent last year to 12.9 percent by 2010. The largest increase since President Ronald Reagan caused an increase of 6 percent in the 1980s.

Hastings said government is roughly 43 percent of the gross domestic product, but at the continued rate of growth, he believes the amount will be 60 percent in Obama’s first year in the White House.

Representatives from both sides of the aisle approved $400 billion in deficit spending for two wars after the terrorist attacks in 2001. By 2007, America was left with only $100 billion in deficit spending. Projections are now showing we could have $1.8 trillion in deficit spending by the end of this year.

These are scary numbers. Regardless of the short term good it will do, are we really prepared for paying all of this money back? Where will the federal government find more revenue to pay for the additional spending?

Washington state was forced to cut a few billion from its operating budget when revenue began shrinking. The cuts were painful. The state deficit was ranging from $5 billion to $9 billion.

Imagine the financial pain when the federal government is forced to halt deficit spending and is required to start paying off our national debt.

Before we plunge into further debt, lets take some time and wait to see what we bought with the first $787 billion stimulus package.

— Editorial board