What do I know?

Finance & economy are mysteries to me. I know I could study the U.S. economy for decades and still be essentially a gypsy searching the depths of a crystal ball.

However.

Fed Chairman Bernanke is reporting now that our economy is in distress and in dire need of a little help. I thought, "Great! Lower rates for mortgages will get people buying houses again. And I can refinance away from my ARM! Wahoo!"

However.

I was a bit too optimistic. According to the CNN article: "Former Treasury Secretary Larry Summers told lawmakers at a hearing of the Joint Economic Committee on Tuesday that Congress should immediately consider a stimulus package of $50 billion to $75 billion through a combination of tax cuts and increased spending on unemployment benefits and other programs. He also advocated that another $50 billion to $75 billion be set aside in case economic conditions weaken further."

So. The way to strengthen our economy is by increasing the federal deficit. Awesome! Or should I say: BOO!! I swear this country can't balance a budget to save their fiscal lives.

But what do I know? Just seems to me that it ought to be like airlines where they counsel you to put on your own oxygen mask before you help your kids. If the adult goes unconscious, it won't help your kids. I know I'm a total loser of a nobody in the economic world, but I can't help thinking that the way to strengthen our nation's economy is from the top down. Start decreasing the federal deficit. Enjoy a bit of fiscal responsibility. Then, once our nation's mask is in place, they can work on helping out the little guy.

But I still won't mind if I get a sweet refi on my mortgage. I've only got three years left on my 7/1 ARM.