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Yes, We Really Are Just Printing Money

05/05/2008

I can't believe the Treasury Department just sent out this advisory.

Paulson to Visit Treasury Printing Facility in Kansas City Next Week to Observe Stimulus Checks Rolling off the Presses

Washington, DC--Treasury Secretary Henry M. Paulson, Jr. will tour a Treasury Department printing facility in Kansas City next Thursday to observe the first mass production printing and packaging of the 2008 stimulus checks. He will also deliver remarks on the economic stimulus at the Kansas City Central Library.

"By the end of June nearly 130 million stimulus payments should be in the hands of Americans, providing an immediate boost to the economy and helping to create more than 500,000 new jobs by the end of the year," said Paulson.

The following events are open to the press:

Who Treasury Secretary Henry M. Paulson, Jr.

What Facility Tour

When Thursday, May 8, 8:00 a.m. CDT

Where Kansas City Regional Financial Center

4241 NE 34th Street
Kansas City, MO

The stimulus checks are 100% borrowed money (whatever happened to Democrats' "pay-go" budget BTW?) ...of course, they are financed by real claims from investors through Treasury bonds, but the way the Federal Reserve is debasing the dollar, the metaphor here is pretty remarkable.