There's something deeply broken in a government being able to spontaneously send every one of its taxpayers $800 to goad them into buying more stuff to help the economy.
Well, it had to be either through incurring debt (and we all know what sound fiscal policy it is to incur debt because your finances aren't going well) or because the government has so much excess unallocated budget waiting to go into pork barrels and similar excess that spending a little cash on the taxpayers is like daddy buying the kids a new toy instead of going to The Jiggly Room with the boys. In either case, I'm appalled.
What? I thought we practiced trickle down, not bubble up. We should give all that money to the rich because they can spend it so much more responsibly than everyone else.
That's actually the plan... people are being given money in a down-looking economy, and being asked to spend it on useless crap, not pay off debts or save it. We are literally being urged to give it right back to big business... and to just pick which business gets it. It's like American Idol for megacorporations.
The serious and (practically unreadable academic) economists have been talking in terms of a Great Depression like event for about a year now. Last year at this time they were talking about the housing market and heating oil. They said that if winter stretched on we could get pushed over the line and set off a world wide slow down (slower some places, like here, than others. At that time they said that if we got lucky enough to skate past that winter we would have nine months to correct the economy or we would face that scenario this year. We didn't fix it and once again too many homeowners are faced with the choice of the heating bill or their mortgage. If we try to skate it again this year, just exactly where will be next year
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Comments 17
Also, where is he getting $800 for each of us?
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Our future earnings. Plus interest.
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