re:I wonder though if the short term benefit of the package will balance the cost of increasing the national debt?
To the extent that all this "stimulus" causes inflation, The national debt will become less (because we will pay it all back in devalued dollars).
I think the Bush administation's policy has been to spend spend spend.
And the Congress has been more than happy to come along for the ride.
Eventually, this will all cause a great deal of inflation and the $ will plummet in value. Those who spent money frivoulously will be rewarded, and those who have saved their money will see their lifes savings lose a lot of value.
Don't worry, be happy. Its an election year!!!