The Risks of Massive Deficits

Superstrategist Andy Busch of BMO Capital Markets speaks truth to stimulus:

We crave the short term relief and want it as soon as possible.  The stimulus plan will be crafted by mid-February to spend $775 billion.  It's a major stretch to think that Congress can find a way to efficiently spend or allocate out this massive amount of money in such a short time period.  However, the larger, longer term risk remains that this new spending becomes permanent.  Has anyone in the Obama administration or in Congress discussed a sunset provision for this new spending?  The only group that's discussing an exit strategy are the sharpies from the Federal Reserve. ... While Obama speaks today and his team gives interviews over the next few weeks, try to keep in mind the structure they are putting in place.  Without a strategy set from the beginning to reduce the spending after the economy stabilizes, this stimulus program will decimate US finances for years and may trigger an exit strategy by foreign investors from US government securities and the US dollar.